Nicholas Garrett, CEO of RCS Global, talks about responsible sourcing of raw materials in this Benchmark Minerals Week interview.
At this year’s Benchmark Minerals Week’s Cathodes conference in Newport Beach, the Investing News Network sat down with Nicholas Garrett, CEO of RCS Global, to talk about responsible sourcing of raw materials.
“Responsible sourcing remains an issue, it’s very much under the spotlight,” he said, adding that compared to last year, this year there’s been more talk about solutions.
“There is a general understanding across the supply chain that responsible sourcing is one of those issues that is not just going to go away,” Garrett added.
“Practical initiatives are emerging, we’ve seen engagement with highly complex issues such as artisanal mining in the Congo (…) we are very positive that we will see some very interesting initiatives emerge and also very tangible results in the sector over the next year,” Garrett said.
Speaking about the biggest achievements in the cobalt sector, he said the downstream, meaning the automotive and technology brands, have caught onto the fact that they need to do something about it.
“Some leading brands are investing in the so called mapping activities, which allow them to map their supply chains (…) until the full picture of the supply chain is established, this takes times and resources,” he explained.
At the same time, a key challenge that has been overcome is a reduction in the fear of engaging with the issues at source, meaning companies are now investing at the base of their supply chain.
Looking ahead, both consumers and companies need to take a step by step approach, according to Garrett.
“We need to be mindful about the need for reporting, the need for making data available, through which companies can actually demonstrate continuous improvements,” he said.
Garrett added that miners could take some important steps such as collaborating, adhering to standards and reporting against those standards among others.
Listen to the interview above or read the transcript below for more insight from Garrett, who also talks about issues in the supply chains of other raw materials aside from cobalt.
You can also click here to listen to our full Benchmark Minerals Week’s interviews playlist on YouTube.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in contributed article. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.