9/7, 6:31 PM (Source: TeleTrader)
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Tesla enters alliance that supports Congo cobalt miners

American electric vehicle and clean energy giant Tesla Inc. decided to support informal cobalt miners in the Democratic Republic of Congo. The car producer wants to prove to its clients that all of its battery metal supply is ethically mined.

According to the Fair Cobalt Alliance, the company joined recently with the focus on ending the usage of child labor at mining sites. The alliance has the support of the British commodity trading and mining company Glencore Plc and major Chinese cobalt refiner Zhejiang Huayou Cobalt Co. Approximately three-quarters of the world’s cobalt comes from Congo and it is expected that the demand rises during the next few years.

Tesla made a deal with Glencore earlier this year in order to buy cobalt from its Congo mines.

Breaking the News / TF