China Molybdenum Co., Ltd (CMOC) – the second largest cobalt producer and the largest tungsten producer in the world, and its Geneva-based trading arm, IXM, have joined the Fair Cobalt Alliance, the action platform that brings together actors across the cobalt supply chain.
CMOC’s and IXM’s commitment to responsible sourcing and desire to contribute to the economic development of the Copper-Cobalt belt, led both companies to join the growing list of FCA members. The Alliance is pledging to assist in the formalization and professionalization of the artisanal and small-scale mining (ASM) cobalt sector and to help improve the lives in DRC mining communities.
The FCA welcomes its growing membership from across the supply chain including EV-manufacturers Tesla, Volvo Cars and Sono Motors; electronics manufacturers, Fairphone, Signify, and Shift; mining and metals companies, Glencore and Huayou Cobalt; and battery manufacturers, Amperex Technology Limited, who joined the FCA earlier this year. The FCA seeks to work in alignment with the new DRC government nationally. At provincial level, it already works closely with authorities, artisanal mining cooperatives, local community leadership, Congolese NGOs and civil society such as CARF and Maison Kwetu. The FCA collaborates also with international development organizations such as UNICEF, Save the Children and The Miller Centre of Social Entrepreneurship.
CMOC’s decision to join the FCA is significant, as it is an example of the industrial mining sector committing to play an active role in improving conditions in ASM communities.
The FCA’s Executive Director Assheton Carter welcomes CMOC and IXM joining the FCA:
As the world relies on cobalt to fuel a green transition, it is the responsibility of actors across the supply chain to ensure that cobalt production is not to the detriment, but to the benefit of the Congolese people. It is exciting to have yet another industrial miner and, for the first time, a cobalt trading company join the FCA, getting us closer to fulfilling our vision of supply chain wide engagement, from mine to market. IXM and CMOC can be proud of joining the pioneers that have taken a bold step to engage and invest, in line with our belief that responsible sourcing starts with taking responsibility.