Freeport Cobalt, a Freeport-McMoRan Company, Recognized for Responsible Mineral Sourcing
January 2, 2020 - Freeport Cobalt, a Freeport-McMoRan company, was recognized as a Conformant Refiner by the Responsible Minerals Initiative for its ethical processing of responsibly sourced minerals.
The certification by this international group validates the company's commitment to producing materials from responsibly sourced cobalt. More than 65 percent of the world's cobalt supply is sourced from conflict-affected and high-risk areas such as the Democratic Republic of Congo.
Cobalt is used in lithium-ion batteries in electric vehicles and other clean energy technologies.
The Responsible Minerals Initiative addresses the link between mineral supply chains and human rights impact by helping companies identify opportunities for improvement and increase transparency. The Responsible Minerals Initiative uses third-party auditors to independently assess and verify that participating smelters and refiners have systems in place to responsibly source minerals in compliance with the Organization for Economic Co-operation and Development’s guidelines.
Please see the 2018 Working Toward Sustainable Development Report for more information on all the company’s social, economic and environmental efforts.