Cobalt to clean its act

Concerns over how the DRC mines cobalt, often by hand in dangerous conditions using cheap labour often minors are growing. Some big mining houses are nervous. A blind eye has been turned by some very big conglomerates, until now. The NYT Wed 6th June 2019 issue drills down on why anyone with clean cobalt produced away from the DRC is in for a windfall. Last month The London Stock Exchange announces that effective 2022 only metals compliant with OECD guidelines on responsible supply chains will be traded in the 142 year old venue. Big users such as Apple, Samsung Tesla etc are all scrambling to ensure they are not associated with supply (no matter how cheap) from potentially criminal fraudulent or corrupt practices from the source country.

Not an unusual clean up, but the most unusual thing is that near 95% of all cobalt has come traditionally from DRC unregulated mining activities.

Cheers
Phil.