Eurasian Resources Group enters into a principal agreement with China's NFC to complete the construction of its project in Africa; EXIM and ICBC to support the financing, Sinosure to provide the insurance
Re|Source cements partnership with Tesla
Re|Source, a solution to trace responsibly produced cobalt from the mine to the electric vehicle, is proud to acknowledge the progress made by Tesla in implementing the pilot project across its supply chain. Further details can be found in Tesla’s Impact Report. Tesla has been a key partner in designing and implementing the solution, which was officially announced on 20 May 2021, across its value chain since 2019.
The pilot is being tested in real operating conditions, from upstream cobalt production facilities in the Democratic Republic of the Congo (DRC) to downstream electric vehicle productions sites. Multiple on-site pilots have already commenced in the DRC and Europe, and plans are in place to commence further pilots in Asia and the US later this year. The final pilot across the entire Tesla supply chain is expected to take place in Q4 this year. The launch of the final industry solution is expected in 2022 and is being supported by boutique block-chain technology studio, Kryha.
The founding members of Re|Source, which include CMOC, Eurasian Resources Group (ERG) and Glencore are joined by Pilot partners Umicore and other supply chain participants. The solution is also being advised by a growing number of industry associates including Norilsk Nickel and Johnson Matthey. Johnson Matthey’s participation is based on their experience in responsible sourcing.
The Responsible Minerals Initiative (RMI) and The Cobalt Institute (CI), two highly respected industry bodies with a deep understanding of the complexities involved in the cobalt supply chain, have also joined Re|Source as strategic advisors, supporting the implementation of world-class best practice standards across the pilot.
More information on Re|Source is available at www.re-source.tech