Ethical cobalt, page-7

The US Ways and Means Committee has passed the bill. When passed by the House and Senate, it will be a huge boost to COB IMO.

The Stop China’s Exploitation of Congolese Children and Adult Forced Labor through Cobalt Mining Act

Introduced by Rep. Chris Smith (NJ-04), H.R. 7981 requires an investigation into the use of child or forced labor in the Democratic Republic of the Congo (DRC) mining industry.

• Despite a longstanding statutory prohibition on imports made, in whole or in part, with forced labor, and longstanding concerns about child and forced labor in DRC cobalt mines, U.S. Customs & Border Protection has never imposed a Withhold Release Order to block any imports of cobalt from the DRC.
• This bill requires the interagency Forced Labor Enforcement Task Force to investigate the use of forced labor in the DRC’s cobalt mining industry and requires the Administration to block imports pursuant to section 307 of the Trade Act of 1974 of any cobalt found to be mined or processed with the use of forced labor.
• Cobalt is an essential component of most lithium-ion batteries – components in smartphones, laptops, and electric vehicles.
• Worldwide cobalt demand is expected to increase over 600 percent by 2040.
• Chinese entities reportedly have ownership stakes in 15 of the DRC’s 19 cobalt mines.
• An estimated 40,000 of the 255,000 miners in artisanal and small-scale mining in the DRC are children.

Click here to read the one-pager.

Details can be found in the Ways and Means website:

Ways and Means Passes Legislation to Combat China’s Malign Influence and Protect American Workers - House Committee on Ways and Means