Conflict Minerals: Glencore, Umicore to Trace Battery Cobalt with Blockchain Technology

May 20, 2021 | Reuters
View Original

Mining and trading company Glencore and other miners are joining forces with battery material supplier Umicore to make the cobalt used in electric cars traceable using blockchain technology, they said in a statement. Miners and carmakers, under pressure to show electric vehicle batteries are sourced responsibly, are exploring the usefulness of blockchain - a digital platform for recording and verifying transactions that is shared across a network of computers - to improve scrutiny of supply chains and show sourcing does not rely on conflict minerals or child labour.