Zhejiang Huayou Cobalt
| 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 was found in 2002,and specializing in research and development, manufacturing business of new energy Li-ion battery materials and new cobalt materials. As a primarily 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.
After decades of development, Huayou Cobalt has established an unique and integrated industrial chain around Li-ion battery material, with headquarter in Tongxiang, resource sourcing abroad, production bases in China and marketing globally. It has four business segments including Resources, New Materials and New Energy and Recycling. It created a new energy li-ion battery industrial ecology from development and metallurgy of cobalt and nickel resources, intensive processing of li-ion cathode materials, to resource recycling and reusing. Creating values for the clients and leading industrial development is our mission. Insisting on transformation path of “Upstream Resources Controlling, Downstream Markets Developing, Internal Capability Enhancing” and the development strategy of “Two New Areas and Three Trends”, Huayou Cobalt aims to become the leader of global Li-ion new energy material industry while maintaining the international leadership in cobalt industry.
Child labor allegations and Huayou's actions to take responsibilities
According to a joint Amnesty International and African Resources Watch report,[5] 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.[6][7] Apple Inc. said that approximately 20% of the cobalt in Apple's batteries were sourced from Huayou Cobalt.[6]
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.[8]
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.[8] After a 2017 Sky News follow-up that showed that child labor continued to be utilized,[9] Apple said it stopped buying cobalt mined by hand in DRC entirely.[10][11]
In June 2018, Signify, together with Fairphone and Huayou Cobalt co-founded the Fair Cobalt Alliance, the members include :LGES、Tesla、Google、Britishvolt、ATL,FREYR.[12]
(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.[13]
See also
References
- ^ "Zhejiang Huayou Cobalt Co. Ltd".
- ^ "603799.CN | Zhejiang Huayou Cobalt Co. LTD. Financial Statements - WSJ".
- ^ a b "Huayou Cobalt".
- ^ a b c "Zhejiang Huayou Cobalt Co Ltd".
- ^ "This is what we die for" (PDF).
- ^ a b "The cobalt pipeline: Tracing the path from deadly hand-dug mines in Congo to consumers' phones and laptops". The Washington Post.
- ^ "Apple and Microsoft Linked To Child Labor in Cobalt Supply Chains".
- ^ a b "Companies respond to questions about their cobalt supply chains". The Washington Post.
- ^ "Meet Dorsen, 8, who mines cobalt to make your smartphone work".
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.
- ^ "Apple cracks down further on cobalt supplier in Congo as child labor persists". The Washington Post.
- ^ "The Dark Side of Congo's Cobalt Rush". The New Yorker. 2021-05-22. Retrieved 2022-08-25.
- ^ "Fair Cobalt Alliance".
- ^ "Ford,Huayou Cobalt,IBM, RCS are using blockchain tech for transparency of the metal".
