POSCO Future M publishes responsible minerals report

South Korea's POSCO Future M Co. announced on Tuesday that it released a responsible minerals report detailing establishing a sustainable supply chain for secondary battery cathode materials.

The responsible minerals report is a document that discloses a company's efforts and achievements in building a sustainable supply chain, including conducting pre-checks to ensure no human rights violations or environmental destruction occur in the mineral mining process and establishing purchasing and control procedures to prevent the acquisition of problematic minerals.

Recently, global interest in supply chain management has been on the rise, with the European Union preparing to enforce the Corporate Sustainability Due Diligence Directive (CSDDD), which mandates environmental and human rights assessments for companies.

POSCO Future M has released its third responsible minerals report this time, following its first publication in 2021 as the first domestic battery company to do so.

The company only sources cobalt and tungsten, classified as conflict minerals, from mines and suppliers verified by the Responsible Minerals Initiative (RMI), a global consortium focused on responsible mineral sourcing.

Additionally, POSCO Future M operates its evaluation process to ensure compliance with RMI standards for lithium, nickel, manganese, graphite, and other cathode materials without RMI certification systems.

Write to Hyung-Kyu Kim at khk@hankyung.com