Why Use an Extended Minerals Data Collection & Management Solution?
Although there are currently no legal requirements regarding cobalt and mica sourcing, many companies voluntarily track and report on this information in an effort to build comprehensive responsible minerals programs. Additionally, some companies have made cobalt and mica due diligence a contractual requirement for the suppliers with which they do business. This stems from reports of substandard working conditions in mines across various conflict-affected and high-risk areas (CAHRAs), and an effort to avoid supporting armed conflict in the Democratic Republic of the Congo, where approximately 60 percent of global cobalt is mined.
To keep up with the market’s growing expectations, companies must collect, organize, and report on extensive data from their supply chains to verify the sources of cobalt and mica they use. Leveraging a secure, automated system reduces the time and energy required to get and manage data, while making data readily accessible when it is needed.
Assent’s Responsible Minerals — Extended Minerals Module
The Responsible Minerals — Extended Minerals Module helps companies efficiently collect and validate cobalt and mica data, providing supply chain transparency and risk reduction. Companies can leverage the Extended Minerals Reporting Template (EMRT) to ensure data is acquired in accordance with industry standards, enabling informed decision-making about cobalt sourcing and risk mitigation.
Learn more about Assent’s extended minerals solution in our guide, The Assent Compliance Platform.
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