LME ethical supply plan flawed: NGO

HUMAN rights group Global Witness told the London Metal Exchange to its face a new responsible sourcing plan was flawed.

LME ethical supply plan flawed: NGO LME ethical supply plan flawed: NGO LME ethical supply plan flawed: NGO LME ethical supply plan flawed: NGO LME ethical supply plan flawed: NGO

A panel of responsible sourcing experts said companies being more transparent could head off new regulation from governments

The LME said this week it would look more closely at "discounted" cobalt that came to the trading floor.

Global Witness supply chain expert Sophia Pickles said in a panel session at the LME metals seminar the plan risked targeting the wrong people.

"You risk creating a blunt instrument that may have negative unintended consequences, particularly penalising artisanal mining," she said.

Speaking on a panel for LME Week, Pickles also highlighted how existing checks on responsible sourcing were not totally effective.

"They don't guarantee that the company is sourcing responsibly, and they aren't a substitute for your own individual responsible sourcing assessment," she said.

Global Witness had said in a statement earlier in the day that the LME was...