Under the MoU, the two parties will collaborate to create a copper product line to meet increasing demand for metals with “strong provenance credentials”.
The partnership’s primary objective is to enhance transparency throughout the copper value chain.
The goal is to identify and evaluate the sustainability indicators that are most relevant and valuable to both industry participants and end consumers.
Leveraging advance technology-driven traceability solutions, Anglo American and Mitsubishi will collaborate to ensure that relevant product provenance data is securely accessible to related stakeholders.
Anglo American base metals marketing executive head Paul Ward said: “We are forging long-term collaborations with customers across key geographies, building on well-established commercial relationships to extend the impact of our commitment to create ethical value chains for our products beyond our own mining operations.
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“Consumers around the world are increasingly asking that their purchases come with greater assurance of sustainable production. Our work with Mitsubishi Materials aims to accelerate efforts to increase provenance visibility for materials used in some of the key technologies for modern life and to improve living standards for a growing global population through sustainable socioeconomic development.”
Furthermore, the two companies will work on investigating opportunities for decarbonisation, with the intention to cut the overall carbon emissions associated with the metal.
Mitsubishi Materials managing executive officer responsible for sustainable development Nobuhiro Takayanagi said: “Our company has set out ‘Our Commitment’ of ‘For people, society and the earth, circulating resources for a sustainable future.’
“We will build a connected system of metal resources based on our strengths and realise growth throughout the value chain by expanding the scope, regions and scale of our operations. Through cooperation with Anglo American, we will promote efforts to ensure transparency of product information.”
Recently, Reuters reported that Anglo American started cutting jobs at its corporate and head office in South Africa.