The world's largest cobalt supplier is the Democratic Republic of Congo (DRC), which leaves a growing market dependent on a region that poses challenges, among them the risk of human rights abuses.
Cobalt is a key ingredient in batteries that power electric vehicles (EVs), and its use is expected to grow exponentially as the world shifts to a greener economy.
As a result, in recent years, market stakeholders have demonstrated an increasing interest in initiatives aimed to facilitate the sustainable and responsible sourcing of cobalt.
One such initiative, the Battery Passport, aims to improve the sustainability of cobalt mining. And in the years to come, the development of a secondary market for recycled cobalt will also help the industry rely less on sourcing cobalt first-hand.
As well, a multitude of new bodies, initiatives and frameworks have been designed to improve mining practices in the DRC.
Artisanal and small-scale mining (ASM) of cobalt in the DRC is a sector responsible for millions of livelihoods and is a key growth driver for the country's economic development.
ASM activity is...