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Re | source pilot scheme of cobalt traceability project: covering the whole supply chain of Tesla within the year

Time : 31/12/2021 Author : trnkch Click : + -
        On August 12, resource announced that it would strengthen its cooperation with Tesla to jointly promote the traceability and responsible procurement of cobalt metal. It is expected that the final pilot program covering the whole supply chain of Tesla will be launched in the fourth quarter of this year. In 2019, Luoyang molybdenum industry (603993), the world's second largest cobalt producer, together with Eurasian Resources Group (ERG) and Glencore, launched the cobalt traceability project resource, which aims to promote the traceability and responsible procurement of cobalt through the blockchain technology, and ensure that sustainable production methods are adopted throughout the whole process of cobalt mining, processing and application to end products.
        Tesla is also one of the important partners of resource, and has been involved in the design of the project since 2019. Through this cooperation, it is expected that the final pilot scheme covering the whole supply chain of Tesla will be launched in the fourth quarter of this year, and the final industrialization solution plan will be launched in 2022. Cobalt is one of the cathode materials of ternary lithium batteries, and the collection process of cobalt resources is extremely difficult. The cobalt containing ternary lithium battery is often favored by automobile enterprises because of its advantages in long-term life. Taking Tesla as an example, high energy density ternary lithium battery has always been a very important choice. However, 66% of the global cobalt production comes from the politically unstable Democratic Republic of the Congo (DRC), which leads to limited reserves and rising prices, which has become a constraint on the development of new energy vehicles.
        With the continuous expansion of the new energy vehicle market, many automobile manufacturers and battery companies are studying how to reduce the proportion of cobalt in the formulation of ternary lithium battery materials. Some companies have even begun to develop cobalt free batteries. However, at present, the cobalt free solution is still difficult to achieve. The resource project is to ensure that all cobalt ore, processing and use used for the final products meet the sustainability standards through solutions, thus fundamentally alleviating the consumption of cobalt. It is understood that resource was developed by kryha, a blockchain technology studio. Since it was officially released on May 20, it has been piloted in several mining sites in the Democratic Republic of Congo (DRC) and Europe, and is planned to be launched in Asia and the United States later this year.
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