Glencore, Britishvolt sign strategic partnership for long-term supply of cobalt
Diversified mining and marketing company Glencore has
entered into a long-term strategic partnership to supply UK-based lithium-ion
battery cell technologies investor Britishvolt with responsibly sourced cobalt.
The partnership represents a major milestone for Britishvolt
on its quest to assist vehicle original equipment manufacturers with their
roadmaps to electrification.
By securing one of the key battery ingredients from the
Glencore cobalt brands, Britishvolt is significantly derisking its operation by
obtaining long-term security of supply across its business, Glencore says in a
statement.
"We are delighted to be partnering with Britishvolt, a
pioneer in UK electric vehicle battery technology and production. The UK has a
unique legacy of automotive innovation and Britishvolt’s ambition to power the
next generation of mobility will add to this rich history.
“Our commitment to support our partners in meeting their
requirements for essential battery ingredients is key to underpinning long-term
supply agreements. As the mobility and energy transition accelerates, so does
future demand for battery metals such as cobalt, copper and nickel.
“Glencore is already a leading producer and supplier of
these metals, helping to underpin our ambition of achieving net-zero total
emissions by 2050,” Glencore cobalt trader head David Brocas notes.
“This is a huge step in the right direction for Britishvolt
as we look to accelerate the transition to a low-carbon society. By partnering
with Glencore, we are locking in supply and derisking the project,” Britishvolt
CEO and founder Orral Nadjari comments.
Nadjari says this strategic partnership aligns perfectly
with the company’s environmental, social and governance principles, including
applying best practice wherever possible, as well as assessing the labour,
human rights and ethical procurement performance of its suppliers.
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