Glencore joins Responsible Sourcing Blockchain Network for tracing cobalt
Fri, 13 Dec 2019, 04:33 am UTC
Cobalt producer Glencore has announced that it is joining the Responsible Sourcing Blockchain Network (RSBN).
Built on the IBM Blockchain Platform, assured by RCS Global Group and powered by Hyperledger Fabric, the RSBN blockchain platform aims to provide traceability and verification of responsible sourcing practices of minerals – cobalt, mica and 3TG conflict minerals: tungsten, tantalum, tin and gold – from mine to market.
RSBN is designed to be adopted across industries by original equipment manufacturers (OEMs) in automotive, electronics, aerospace and defense as well as their supply chain partners such as mining companies and battery manufacturers.
IBM first announced the initiative in January this year. Members include Ford, Volkswagen Group, LG Chem, Huayou Cobalt, Volvo Cars, and more recently Fiat Chrysler Automobiles. RSBN successfully completed a pilot project last month and is now targeting to go live in spring 2020.
In its press release, Glencore said that the initial focus of its participation in the initiative will be on cobalt. It added that the membership will enable it to deliver improved supply chain traceability and transparency and integrate good practice with its supply chain partners.
“RSBN plays a key role in advancing the sustainable partnership between the producers of commodities that will enable the transition to a low-carbon economy and key consumers around the world. We look forward to working with the network to further embed responsible sourcing good practice across the mineral supply chain,” Nico Paraskevas, Glencore Head of Marketing for Copper and Cobalt said.
Glencore said that it has already started the onboarding process to obtain full RSBN membership by the end of February 2020, adding that its diversified mining, processing and trading operations will support the network’s expansion to cover other battery metals as well as metals including tin, tantalum, tungsten and gold in 2020.
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