The cobalt will be sourced from Glencore’s operations in the Democratic Republic of the Congo, such as the Kamoto east pit (above). (Photo: Katanga Mining)
Glencore has signed a five-year agreement with Samsung SDI for the supply of cobalt hydroxide. Glencore will provide up to 21,000 metric tons (mt) of cobalt contained in cobalt hydroxide between 2020 and 2024. The cobalt will be sourced from Glencore’s industrial mining operations located in the Democratic Republic of the Congo.
Glencore and Samsung SDI said they are committed to ensuring the ethical and responsible production and procurement of cobalt. Both parties agree that Glencore’s DRC operations will be independently audited each year against the “Cobalt Refinery Supply Chain Due Diligence Standard.” This standard is defined by the Responsible Mining Initiative (RMI).
“We are pleased to extend our partnership with Samsung SDI by entering into this long-term cobalt supply agreement,” Head of Copper and Cobalt Marketing for Glencore Nico Paraskevas said. “This demonstrates a further continuation of Glencore’s cobalt hydroxide marketing strategy to secure long-term supply agreements with key players in the lithium-ion battery supply chain.
“This also illustrates Glencore’s important role in supplying the materials that enable the energy and mobility transition and Glencore’s commitment to responsible production.”
