MANAGEMENT

Teck partners with DLT in blockchain metals pilot

It is the first time blockchain is being used to track development of germanium.

DLT Labs' blockchain technology will track germanium from the Red Dog mine to a processing facility, and onto customers.

DLT Labs' blockchain technology will track germanium from the Red Dog mine to a processing facility, and onto customers.

Teck Resources Ltd has partnered with Toronto-based DLT Labs to track germanium from the mine to the customer using blockchain.

It is the first time blockchain is being used to track development of germanium, Teck said. DLT's DL Asset Track product will be used in the pilot project.

The technology will trace the production of the critical mineral from the Red Dog zinc-lead mine in Alaska to the transport to refining at Teck's Trail metallurgical facility in southern British Columbia, and onward to a manufacturer of fibreoptic cable.

The blockchain technology will record data on ESG practices, including greenhouse gases emitted in the product, as well as product certifications and responsible production assessments.

The mining industry has been turning to blockchain to improve transparency around other types of minerals, particularly conflict minerals.

Following a wave of regulations and legislation aiming to curtail mining profits from being captured by militaristic factions, some mining companies have turned to the technology to avoid being penalised.

More recently, several mining companies teamed up with the World Economic Forum in 2019 to create the Mining and Metals Blockchain Initiative to improve responsible sourcing.

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