Yesterday Volkswagen Group
announced it was joining Ford, IBM and others in a blockchain supply chain network for responsible sourcing of strategic minerals including cobalt. The metal is an important component for batteries used in electric cars and mobile devices.
Other members of the group which was
unveiled in January are Huayou Cobalt (which also supplies
Apple) and LG Chem as well as responsible sourcing audit specialists RCS Global Group.
There’s been recent high profile
press coverage about child labor and dangerous conditions in artisanal mines in the Democratic Republic of Congo which is home to two-thirds of the world’s cobalt reserves. Artisanal mines account for about 20% of DRC’s output. To comply with standards, it would be easy to exclude these mines, but they are an important source of income for locals.
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