RSBN is an industry collaboration utilising blockchain technology to support responsible sourcing and production practices from mine to market
Glencore, one of the world’s largest industrial cobalt producers, announces 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.
Source: Company Press Release