Posco joins Responsible Minerals Initiative

Posco said Thursday it has become the first South Korean steelmaker to join the Responsible Minerals Initiative.

The RMI, which was founded by members of Responsible Business Alliance and the Global e-Sustainability Initiative in 2008, is a global consultative group of companies from a range of industries, addressing responsible mineral sourcing in supply chains. About 380 companies, including Apple, Tesla and Samsung Electronics, are members of the initiative.

Posco said it will be able to manage procurement and supply network responsibly under the guidance of RMI, and access information related to the country of origin of the minerals, and solutions and mechanisms to identify and reduce risks in the mineral supply chain.

Posco uses tin and tungsten in its steel production, two metals which often come from conflict minerals – ores mined in warzones to fund and perpetuate the fighting. But the company said the metal it uses does not come from conflict affected regions.

By joining RMI, Posco said it seeks to expand its attention to illegal labor issues, including forced and child labor, and environment-related agendas for responsible sourcing.

By Jo He-rim (herim@heraldcorp.com)