Glencore, one of the world’s largest industrial cobalt producers, announces that it is to join the Responsible Sourcing Blockchain Network (RSBN). RSBN is an industry collaboration utilising blockchain technology to support responsible sourcing and production practices from mine to market. With members spanning downstream auto brands, refiners and miners, the network’s blockchain has moved beyond proof of concept and is on track to become commercially operational by spring 2020.
Demonstrating its commitment to good practice, membership of RSBN will enable Glencore to deliver improved supply chain traceability and transparency and integrate good practice with its supply chain partners.
Glencore has begun the onboarding process to obtain full RSBN membership by the end of February 2020.The initial focus of Glencore’s participation will be on cobalt. Glencore’s diversified mining, processing and trading operations across the world will support the network’s expansion to cover other battery metals as well as metals including tin, tantalum, tungsten and gold (known as 3TG) in 2020.
Nico Paraskevas, Glencore Head of Marketing for Copper and Cobalt commented:
“RSBN plays a key role in advancing the sustainable partnership between the producers of commodities that will enable the transition to a low-carbon economy and key consumers around the world. We look forward to working with the network to further embed responsible sourcing good practice across the mineral supply chain.”
Built on the IBM Blockchain Platform and powered by the Linux Foundation’s Hyperledger Fabric, blockchain technology helps improve transparency by providing a highly secure and immutable record that can be shared with members of the network based on permission. Additionally, RCS Global Group assesses each participating entity both initially and annually against responsible sourcing requirements set by the Organization for Economic Cooperation and Development (OECD) and those enshrined by key industry bodies, including the Responsible Minerals Initiative (RMI).
RSBN is designed to be adopted across industries by original equipment manufacturers (OEMs) in automotive, electronics, aerospace and defense as well as their supply chain partners such as mining companies and battery manufacturers.
About The Responsible Sourcing Blockchain Network
Built on the IBM Blockchain Platform, assured by RCS Global Group and powered by the Linux Foundation’s Hyperledger Fabric, the RSBN blockchain platform is designed for cross-industry adoption. Providing traceability and verification of responsible sourcing practices from mine to market through end-to-end supply chains, the solution is a network accessible to companies at every tier of the global value chain. Focus industries include, but are not limited to automotive and electronics, including their supply chains and the mining sector. A governance board representing members across these industries is being formed to help further ensure the platform’s growth, functionality and adherence to good practice principles.
In order to join the RSBN companies complete an on-boarding assessment against the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas as well as additional responsible sourcing good practice standards and compliance verifications. Vertically integrated participants complete an on-boarding assessment both at headquarters and at participating asset levels, verifying the respective member’s responsible sourcing management systems and practices on the ground.
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.
With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of offices located in over 35 countries.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 158,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.