“Recent reports that Apple is looking to procure cobalt, an essential component in smartphone batteries, directly from mining companies have highlighted a growing concern about the valuable metal’s impending supply shortage,” Natasha Turak reports for CNBC.

“But just as important as securing a supply of the limited resource may be what one expert calls a ’21st century factor’ — ethics and human rights,” Turak reports. “‘Apple is a buyer of batteries, not a buyer of battery components, and it’s a number of steps away from the raw materials side. So this is significant — the reason they’re doing it is supply chain visibility,’ Simon Moores, managing director of Benchmark Minerals, told CNBC. ‘They need to know that children have not been illegally mining where their cobalt is coming from.'”

“In terms of ethical versus cost concerns, ‘the simple answer is a combination of both,’ said Tony Southgate, head of strategic cobalt marketing at Eurasian Resources Group,” Turak reports. “‘There is a concern about availability, as the EV growth is very, very rapid. Concerns over the growth of EV will impact the availability of batteries, but also buying direct from large-scale miners can ensure the material is ethically sourced.'”

Read more in the full article here.

MacDailyNews Take: Both reasons for securing a cobalt supply – cost and ethics – are smart business.

The message is being delivered: Apple cares. People like buy from companies that they perceive to care…MacDailyNews, November 10, 2015

SEE ALSO:
Why Apple wants its own supply of cobalt – February 21, 2018
Apple in talks to buy cobalt directly from miners – February 21, 2018
Apple promises to one day stop mining minerals to make iPhones – April 20, 2017
Apple continues supply chain transparency as Trump administration considers suspending conflict mineral requirements – March 27, 2017
Apple takes groundbreaking steps to combat deadly trade in conflict minerals – April 1, 2016
Apple says they’re making progress eliminating conflict minerals – February 12, 2015
Where Apple gets the tantalum for your iPhone – February 5, 2015
Greenpeace praises Apple for reducing use of conflict minerals – February 13, 2014
Apple confirms suppliers use conflict-free minerals – February 13, 2014