POSCO Future M announced on the 7th that it has published a Responsible Minerals Report to establish a sustainable supply chain for battery cathode and anode materials.
This report discloses efforts and achievements in building a sustainable supply chain by preemptively checking issues such as human rights violations, environmental destruction, and funding of conflict groups during the mineral mining process, as well as establishing mineral purchasing and management processes.
Cobalt, cathode materials, lithium, and nickel, raw materials for POSCO Future M's cathode materials (Provided by POSCO Future M)
Since publishing the first Responsible Minerals Report in 2021, the first among domestic battery companies, POSCO Future M is proactively managing its supply chain by releasing its third report.
For cobalt and tungsten, which are cathode raw materials and classified as conflict minerals, POSCO Future M sources raw materials only from mines and suppliers verified by the Responsible Minerals Initiative (RMI), a global responsible minerals consortium. Additionally, for lithium, nickel, manganese, and graphite, which do not yet have an RMI certification system, the company has established and operates an internal evaluation process equivalent to RMI standards.
Furthermore, POSCO Future M has established and operates management processes to ensure that suppliers do not use raw materials from small-scale mines with a high risk of human rights or environmental issues located in 239 high-risk areas across 29 countries in Africa, Asia, and South America.
Gu Ja-hyun, Head of Purchasing Contracts at POSCO Future M, stated, "In the battery materials business where various minerals are used, establishing a stable and sustainable raw material supply chain is becoming increasingly important. Through building a supply chain from an ESG perspective, we will proactively respond to the ESG management demands of global battery and finished vehicle customers."
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