GM and Glencore enter multi-year cobalt supply agreement

GM and mining giant Glencore have announced a multi-year sourcing agreement under which Glencore will supply GM with cobalt from its Murrin Murrin operation in Australia, to be used in GM’s Ultium battery cathodes.

Both Glencore and GM are members of the Responsible Minerals Initiative (RMI), and Glencore’s Murrin Murrin operation conforms to the OECD-aligned Responsible Minerals Assurance Process.

“GM and our suppliers are building an EV ecosystem that is focused on sourcing critical raw materials in a secure sustainable manner,” said Jeff Morrison, GM VP, Global Purchasing and Supply Chain. “Importantly, given the critical role of EVs in reducing the carbon footprint of the transportation sector, this agreement is aligned with our approach to responsible sourcing and supply chain management.”

GM has recently announced several initiatives to create a new and more secure EV supply chain:

GM and POSCO Chemical are building a new facility in Quebec as part of a joint venture to produce cathode active material for GM’s Ultium batteries.GM will procure lithium from Controlled Thermal Resources’ Hell’s Kitchen Project in California.GM is working with GE Renewable Energy to develop a rare earth value chain.VAC of Germany plans to build a plant in the US to support GM’s magnet requirements starting in 2024, including locally sourced raw materials and finished magnet production.

Source: GM