LME to ban metal sourced with child labour

Recently, much attention has been drawn to the reports of child mining of cobalt in Africa, particularly in the DRC. The outcry from various public groups has led to the London Metal Exchange (LME)’s decision to remove some companies from their list of approved metal suppliers if they don’t meet the industry standards.  Late last year, the LME had producers provide them with details of their sourcing, auditing and certification to compare against LME contracts. The exchange made a statement that they are “committed to facilitating the implementation of recognized responsible sourcing standards for its listed producers.” The industry does not have a solitary standard for responsible mineral supply chains, and the LME will not be creating one. The LME’s role will be to ensure the standards created by the Organization for Economic Co-operation and Development (OECD) and the Cobalt Institute are met, including care for environment and protection of human rights.

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