What may happen this week?, page-6

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Merlin88

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30/06/19

11:21

Post #: 39306465
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Originally posted by db_nolan: ↑

Hi Flippa! Thanks for the new thread. I was getting a bit tired of the bickering on the other ones.
One thing that i wanted to bring to light this morning was the horrible news emerging for the Congo over the weekend.

Some 50 people have died from a mine collapse at the Glencore owned open cut copper mine.
Most of these workers were working illegally!!!!! (this is ridiculous in 2019)
https://www.reuters.com/article/us-congo-mining-glencore/death-toll-rises-to-43-at-glencore-mine-in-congo-after-collapse-more-expected-idUSKCN1TT1CT

This is on the back of another mining accident, this time relating to a sulphiric acid spill. Killing 19
Yet again, another Glencore owned copper and cobalt mine,
https://www.bloomberg.com/news/articles/2019-02-22/truck-crash-near-glencore-mine-in-congo-kills-18-people

For me, one of the strongest points AUZ has always held is that they are based in relative sovereign safety of Australia.
With that comes the strict safety protocols Australia operates under, whether it be mining or construction.
The capability for AUZ to ensure the safety of their workers will be a paramount for their off take partners.
There is absolutley no way SKI or any other off-take partner would want to be caught up in the death of their workers.

This point has been mentioned many times before, but has never rung more true.
Close to 80 deaths, for the sake of obtaining minerals at any cost is simply unacceptable.
Glencore should be shut down for their role in this (and no there is no counterpoint to that).
Ethically sourced, renewable minerals is where the big battery producers will need to play.
Because AUZ can economically recovey their materials in a safe manner, They will be placed favorably among potential off-takers.

Expand

On the back of your post this recently from VW. It appears if you want to do business with them your house needs to be in order, as well as suppliers suppliers. Don’t think they’ll want to touch any dodgy DRC cobalt...

https://www.volkswagen-newsroom.com/en/press-releases/volkswagen-group-commits-suppliers-to-sustainability-5122

”As of 1st July 2019, the Volkswagen Group will introduce a worldwide Sustainability Rating for its suppliers. This enables the company to assess the sustainability conduct of its business partners in its supply chain with regard to risks relating to human rights, environmental protection and corruption.”

”We use this lever as a matter of priority in the supply chain by requiring our contractual partners to pass on our requirements to their partners.”

AUZ Price at posting: 2.1¢ Sentiment: None Disclosure: Held
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