Glencore joins blockchain network technology to ensure responsible cobalt supply. Credit: Alchemist-hp.

Glencore is set to become a member of the Responsible Sourcing Blockchain Network (RSBN) which uses blockchain technology to support responsible sourcing and production practices of minerals from mine to market.

Glencore noted that the network’s blockchain has moved beyond proof of concept (PoC) and is scheduled to go live by next year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

It has been designed to be implemented by original equipment manufacturers (OEMs) in electronics, aerospace defence and automotive sectors.

RSBN will also be adopted by supply chain partners such as mining companies and other battery manufacturers.

The company says that its membership in the network will enable it to deliver improved traceability and transparency of supply chain.

The company will also be able to form good practice with its supply chain partners.

The company’s initial focus of participation in the initiative will be on cobalt and eventually extended to tin, tantalum, tungsten and gold.

Glencore Copper and Cobalt marketing head Nico Paraskevas said:  “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 Hyperledger Fabric of Linux Foundation, the blockchain technology aims to improve transparency by providing a secure record for members associated with the network upon permission.

RCS Global also assesses each participating firm initially and annually against responsible sourcing requirements set by the Organization for Economic Cooperation and Development.