The demand for batteries is gradually increasing as electric vehicles and renewable energy become more popularised, which has in turn brought attention to the battery supply chain. Lithium, cobalt and nickel are often tied to conflict areas.
Mining could become more dependent on electric vehicles and renewable energy in turn, for a more sustainable and cost-efficient industry. This can be accomplished with comprehensive supply chain tracking.
Electric vehicles in mining
Mining operations employ large amounts of of trucks, and the cost to keep them running can be a substantial financial burden. Electric vehicles are a solution to this cost.
However, it’s not as simple as it sounds: responsible sourcing is becoming progressively more important in mining. Electric vehicles and renewable energy sources are the primary driver in demand for lithium and cobalt, which are often related to conflict, as well as forced and child labour.
As time progresses and supplies reduce, there is an increased push for sustainability, responsible sourcing and greener energy. The push is also about energy efficiency, which in turn leads to cost savings for mining companies. But to ensure that supply chains are transparent, companies must first ensure that they are sourcing from responsible and ethical mines.
What does this mean for the mining industry?
On one hand, it means that there will be a move towards mining for battery metals, as the demand for electric vehicles, smart power grids and smartphones increases.
Many movements towards sustainability – such as renewable energy (especially solar) and batteries for electric vehicles – mean increased demand in battery metal mining.
The future of mining is digitalised, largely remote and autonomous. A mine that could ultimately sustain itself would make the operation smoother and more reliable. Mines function 24 hours of the day, and this requires a great deal of energy and consumption in electricity and fuel.
An autonomous, self-sustaining, and cost efficient mine? It might sound like a dream of the future, but it could be a reality very soon.
The necessity for widespread sustainability in mining
To ensure that the popularity of electric vehicles and renewable energy goes down the right path, secure tracking of supply chains will become a necessity.
Supply chains are complex, and it can become very difficult to ensure that there are no ethical or sustainable problems in sourcing, such as poor environmental impact, forced or child labour, or negative impacts on communities.
STAMP Supply traces your supply chain from beginning-to-end so that companies can ensure they have full knowledge of their company processes. It’s blockchain-enabled, making it secure and permanent, reducing risks of corruption or fraud. To find out more about STAMP Supply, click here.