China’s GEM Co. Ltd and Glencore extend their long-term strategic cobalt partnership
Guildford, Thursday 3rd December, 2020:
China’s GEM Co. Ltd and Glencore have extended their long-term strategic cobalt partnership under the umbrella of the Cobalt Institute’s Cobalt Industry Responsible Assessment Framework (CIRAF), an industry-wide risk management tool that helps cobalt supply chain players identify production and sourcing related risks.
Under the terms of the agreement, Glencore will provide around 150,000 tonnes of cobalt contained in hydroxide for GEM between 2020 and 2029.
Their long-term strategic cobalt partnership includes a commitment to use CIRAF when communicating publicly on environmental and social issues specific to the cobalt supply chain.
Nico Paraskevas, Head of Marketing, Copper and Cobalt, Glencore, commented:
“We are pleased to extend our partnership with GEM. Cobalt provides thermal stability and longevity of performance in batteries and therefore has a key role to play in enabling the transition to a low carbon economy.
“Long term security of cobalt supply and cobalt demand visibility are critical to prevent supply shortages that could impede the energy transition and, ultimately, the world’s ability to meet climate change targets. As the cobalt supply chain matures with greater emphasis on long term partnerships, this contract is just one example of Glencore and its customers working together towards the adoption of industry leading standards on responsible sourcing and environmental and social corporate governance.”