Blockchain solution to tracking ethically sourced cobalt
The metals and mining companies CMOC, Eurasian Resources Group (ERG), Glencore as well as the battery material supplier Umicore are testing the blockchain solution “Re|Source” as part of a pilot project to “track responsibly produced cobalt from the mine to the electric car”.
Norway’s Freyr merges to list on NYSE
Norway’s battery cell start-up Freyr is about to go public on the US stock exchange, again through merging with an already listed investment firm, Alussa Energy Acquisition Corporation (think SPAC).
Glencore to supply Tesla with Cobalt
Glencore is apparently going to supply Tesla’s Gigafactory in Shanghai and the planned plant in Brandenburg with cobalt from the Congo. A recent article in the Financial Times already mentions concrete quantities to be delivered to Tesla.
BMW is changing their resource strategy
The BMW Group is changing its strategy for purchasing raw materials for electric cars. In the case of important materials such as lithium and cobalt, intermediaries are to disappear from the supply chain.
BMW to source cobalt from Australia and Morocco
After Andreas Wendt, the Board Member responsible for purchasing, recently announced that BMW will no longer purchase cobalt from Congo for the introduction of the fifth generation of electric vehicles from 2020/21, it is now clear that the raw material will instead come from Australia and Morocco.