InfraStructures - June/July 2022 - GM and Glencore Enter Multi-Year Cobalt Supply Agreement

GM and Glencore Enter Multi-Year Cobalt Supply Agreement

Glencore and General Motors Co. recently announced a multi-year sourcing agreement in which Glencore will supply GM with cobalt from its Murrin Murrin operation in Australia. Cobalt is an important metal in the production of EV batteries, and the cobalt processed from Australia will be used in GM’s Ultium battery cathodes, which will power electric vehicles such as the Chevrolet Silverado EV, GMC HUMMER EV and Cadillac LYRIQ.

The agreement builds on a commitment both companies share to create strong, sustainable and resilient supply chains through collective industry and multi-stakeholder platforms. Both Glencore and General Motors are members of the Responsible Minerals Initiative (RMI), and Glencore’s Murrin Murrin operation is conformant with the OECD-aligned Responsible Minerals Assurance Process.

Cobalt is a metal that makes up only 0.001% of the earth’s crust. It is known for its heat-resistant properties and is added to lithium-ion battery cathodes to improve energy density and battery longevity.

By the end of 2025, GM plans to have capacity to build 1 million electric vehicles in North America, and has announced a series of actions to create a new and more secure EV supply chain, including projects targeting key EV materials and components:

Cathode Active Material (CAM) with POSCO Chemical at a new facility in Quebec.
Lithium with Controlled Thermal Resources (CTR) to secure lithium produced by the first stage of its Hell’s Kitchen Project in California.
Rare earth materials with GE, to develop a rare earth value chain.
Alloy flakes with MP Materials, who will establish the first North American processing site for alloy flakes in Texas.
Permanent magnets with VAC, the largest producer of permanent magnets in the Western Hemisphere.

Source: General Motors Co.

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