Glencore warns EU new rules put cobalt supply at risk

GLENCORE and Umicore are among smelting and refining firms that have warned the European Union proposed regulations on cobalt exposure could devastate the region’s industry and increase reliance on Chinese supplies.Twelve executives and industry organisations wrote to European Commission president Ursula von der Leyen ahead of a Wednesday vote by member states, said the Financial Times on Wednesday. They said planned rules are already deterring investment and undermining efforts to establish a domestic supply chain for the metal, which is essential for electric vehicles and defence applications.The Commission has proposed limiting inhalable cobalt particles to 0.01 milligrammes per cubic metre, significantly below China’s 0.05mg/m³ threshold and the 0.1mg/m³ limit in the UK, said the Financial times. Industry representatives favour 0.02mg/m³, arguing the stricter standard would force companies to relocate operations to jurisdictions with less stringent requirements.“The damage is already being felt,” the letter stated, warning that firms are redirecting capital away from Europe. The industry claims the regulations would eliminate one in six cobalt facilities and associated employment, contradicting objectives outlined in the EU’s Critical Raw Materials Act.Regulators maintain the lower threshold will reduce lung, kidney and liver diseases amongst workers.The intervention coincides with a planned address by industry commissioner Stéphane Séjourné on Wednesday regarding critical mineral supplies, including cobalt, lithium and rare earths. The Commission forecasts cobalt demand will increase fivefold by 2030.The proposed regulations, announced in July, require approval from member states and the European Parliament before implementation, said the newspaper.The post Glencore warns EU new rules put cobalt supply at risk appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com