Zhejiang Huayou Cobalt: Difference between revisions
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'''Huayou Cobalt Co., Ltd''' is primarily a supplier of [[cobalt]], including [[Cobalt(II,III) oxide|cobalt tetroxide]], [[cobalt oxide]], [[cobalt carbonate]], [[cobalt hydroxide]], [[cobalt oxalate]], [[cobalt sulfate]], and [[cobalt monoxide]].<ref name="huayou"/> It is headquartered in the [[Tongxiang Economic Development Zone]] of [[Zhejiang]], [[China]]. |
'''Huayou Cobalt Co., Ltd''' is primarily a supplier of [[cobalt]], including [[Cobalt(II,III) oxide|cobalt tetroxide]], [[cobalt oxide]], [[cobalt carbonate]], [[cobalt hydroxide]], [[cobalt oxalate]], [[cobalt sulfate]], and [[cobalt monoxide]].<ref name="huayou"/> It is headquartered in the [[Tongxiang Economic Development Zone]] of [[Zhejiang]], [[China]]. |
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A subsidiary, Congo DongFang International Mining, has been involved in several controversies around sourcing of cobalt in the [[Democratic Republic of the Congo]]. |
A subsidiary, Congo DongFang International Mining, has been involved in several controversies around sourcing of cobalt in the [[Democratic Republic of the Congo]]. |
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==Child labor allegations== |
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According to a joint Amnesty International and African Resources Watch report,<ref name="amnesty">{{Cite web|url=http://www.amnestyusa.org/sites/default/files/this_what_we_die_for_-_report.pdf|title=This is what we die for}}</ref> Congo DongFang International Mining, a subsidiary of Huayou Cobalt, sources cobalt from primitive "artisanal" mines in the Democratic Republic of the Congo, where there are few worker protections and child labor has been employed.<ref name="washpost">{{cite web|url=https://www.washingtonpost.com/graphics/business/batteries/congo-cobalt-mining-for-lithium-ion-battery/|title= The cobalt pipeline: Tracing the path from deadly hand-dug mines in Congo to consumers' phones and laptops}}</ref><ref name="fortune">{{cite web|url=http://fortune.com/2016/01/19/apple-child-labor/|title=Apple and Microsoft Linked To Child Labor in Cobalt Supply Chains|publisher=}}</ref> [[Apple Inc.]] said that approximately 20% of the cobalt in Apple's batteries were sourced from Huayou Cobalt.<ref name="washpost"/> |
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In response, Huayou Cobalt admits to having "insufficient awareness of supply chain management", and did not know that buying artisanal cobalt would increase child labor.<ref name="washpost followup">{{cite web|url=https://www.washingtonpost.com/business/economy/companies-respond-to-questions-about-their-cobalt-supply-chains/2016/09/30/910f94de-7b51-11e6-bd86-b7bbd53d2b5d_story.html|title=Companies respond to questions about their cobalt supply chains}}</ref> |
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In 2016, Apple said that starting in 2017, they will treat cobalt as a [[conflict mineral]], and require all cobalt suppliers to agree to outside supply-chain audits and risk assessments.<ref name="washpost followup"/> After a 2017 [[Sky News]] follow-up that showed that child labor continued to be utilized,<ref name="sky">{{cite web|url=http://news.sky.com/story/meet-dorsen-8-who-mines-cobalt-to-make-your-smartphone-work-10784120|title=Meet Dorsen, 8, who mines cobalt to make your smartphone work|quote="Traders then sell it mostly to exporter Congo Dongfang International, a subsidiary of Zhejiang Huayou Cobalt, which supplies most of the world's largest battery makers."}}</ref> Apple said it stopped buying cobalt mined by hand in DRC entirely.<ref>{{cite web|url=https://www.washingtonpost.com/news/the-switch/wp/2017/03/03/apple-cracks-down-further-on-cobalt-supplier-in-congo-as-child-labor-persists/|title=Apple cracks down further on cobalt supplier in Congo as child labor persists}}</ref> |
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(01-16-2019) Ford (NYSE:F) initiated the project with IBM (NYSE:IBM), LG Chem (OTCPK:LGCLF) and China's Huayou Cobalt to ensure the mineral used in lithium-ion batteries has not been mined by children or used to fuel conflict. The typical electric car battery requires up to 20 pounds of cobalt, and by 2026, demand for cobalt is expected to multiply eightfold. |
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==See also== |
==See also== |
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Revision as of 03:44, 25 August 2022
| 603799 (China: Shanghai)[1] | |
| Company type | Lt PTD |
| 603799 (China: Shanghai)[2] | |
| Industry | Mining |
| Founded | 2002[3] |
| Headquarters | , |
Key people | Chen Xuehua (President & CEO) |
| Products | Cobalt |
| Revenue | CNY 4.89 billion (USD 710 million) (2015)[4] |
 CNY 69.24 million (2015)[4] | |
Number of employees | 3120 (2015)[4] |
| Website | www |
Huayou Cobalt Co., Ltd is primarily a supplier of cobalt, including cobalt tetroxide, cobalt oxide, cobalt carbonate, cobalt hydroxide, cobalt oxalate, cobalt sulfate, and cobalt monoxide.[3] It is headquartered in the Tongxiang Economic Development Zone of Zhejiang, China. A subsidiary, Congo DongFang International Mining, has been involved in several controversies around sourcing of cobalt in the Democratic Republic of the Congo.