Glencore Makes U-Turn to Back Artisanal Mining of Cobalt
- World’s biggest cobalt producer joins Fair Cobalt Alliance
- Group aims to end use of child labor, improve work conditions
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Glencore Plc, the top cobalt producer, backed a new initiative to support informal miners in the Democratic Republic of Congo as the industry tries to reassure carmakers about ethically mined supplies of the battery metal.
The company, which has long argued that the auto industry is best served by buying cobalt from its industrial mines rather than from informal miners, said Monday that it has joined the Fair Cobalt Alliance. The group aims to end the use of child labor at mining sites and improve working conditions in Congo. It’s also backed by major Chinese cobalt refiner, Zhejiang Huayou Cobalt Co.