Cobalt Trading

Cobalt producers and buyers need to assess, mitigate, and report on responsible production and sourcing risks in their operations and supply chain. 

The Cobalt Industry Responsible Assessment Framework (CIRAF) enables a coherent and consistent approach to cobalt due diligence and reporting by the cobalt industry. The vast majority of cobalt is produced and distributed by mining and trading companies which adhere to CIRAF or comparable industry accepted frameworks and standards. However, in the DRC where upwards of 60% of the world’s cobalt is produced, the artisanal and small-scale mining sector (ASM), representing between 10 and 20% of DRC production, operates outside such frameworks.  

In 2019, the Democratic Republic of the Congo Government established the Entreprise Générale du Cobalt  (EGC), a subsidiary of GECAMINES, to exercise a monopoly in the country on the sourcing of cobalt from artisanal mining operations, whereby processing prior to export is required before it can be traded.   

The EGC Standard defines the operational requirements for artisanal production that will be followed at all EGC controlled production sites. The EGC Standard will make sure cobalt buyers and supporting financial institutions are confident that EGC cobalt has been brought to market in a responsible manner.

cobalt trading

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