> Cobalt Blockchain Inc. (COBC) is the first company set up specifically to trade cobalt in compliance with the OECD due diligence framework. COBC has 12 years of DRC experience and export trading licenses for cobalt, copper, and 3T minerals.
> COBC has supply and off-take agreements for 40,000 tonnes per annum of cobalt concentrate, and is commissioning a cobalt hydroxide plant in the DRC.
> COBC co-developed and is deploying Mintrax™, a blockchain-based provenance platform to ensure a transparent, secure, and responsible mineral supply chain.
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Responsible mineral provisioning utilizing an OECD-compliant blockchain certification platform
Mining & Metals Trading
COBC is focused on two fronts: expanding its metals trading business in the DRC to include conflict-free cobalt, copper, tin, tantalum & tungsten (3Ts) via its existing trading platform; and building a portfolio of the same conflict-free mineral properties. This expansion in the DRC is to address the growing global need for conflict-free cobalt in technological applications, such as for batteries in electric vehicles.
About 10% of the world's cobalt supply is produced by artisanal miners in the DRC. Artisanally-mined cobalt can be a concern due to issues such as child labour. The COBC team has extensive experience in impact-focused certification to ensure socially-responsible mining, primarily for commodity trading in tin, tantalum and tungsten, and intends to translate this experience into the provisioning of conflict-free cobalt and other metals.
COBC and its partners have developed and are deploying a proprietary blockchain-based certification protocol - Mintrax™ - to be piloted on COBC's own cobalt operations. While continuing its metals trading and mineral operations, COBC will also explore the possibility of using Mintrax™ for other operations - such as, for example, for diamonds and gold - which require conflict-free assurance.