On 2 March 2022, Ravindra Heraeus Private Limited in Udaipur, India, was successfully added to the LPPM Platinum and Palladium Sponge Accreditation List. For the accreditation, a Responsible Sourcing Audit according to the LPPM’s Platinum and Palladium Responsible Sourcing Guidance was performed.
With the accreditation, Ravindra Heraeus Pvt Ltd. emphasizes its position as one of the leading refiners with a profound expertise in the precious metals business. In addition, the company follows a well-proven Quality Management System (ISO 9001:2015) and assumes responsibility with an Environmental Management System (ISO 14001:2015).
"I am happy that we have successfully completed all relevant criteria to be admitted to the LPPM’s Platinum and Palladium Sponge Accredited List. With this certification, we are responding to the increasing demand from our customers for platinum and palladium sponge that have been produced strictly according to international valuation criteria,” emphasized Shailesh Choksi, Managing Director Ravindra Heraeus.
Apart from Ravindra Heraeus in Udaipur, five Heraeus entities hold the certificate for platinum and palladium sponge - in addition to their Good Delivery status: Hanau/Germany, Port Elizabeth/South Africa, Mendrisio/Switzerland, Hong Kong and Santa Fe Springs/USA.
Background LPPM
The London Platinum and Palladium Market (LPPM) is a renowned trade organization for the precious metals platinum and palladium. It defines the strict and internationally applicable high-quality standards for manufacturing and trading of these precious metals. In 2021, the accreditation for sponge was introduced as an addition to the current Good Delivery certification. The purpose of the accreditation is to facilitate the trade with sponge and to increase the confidence of customers that they source high quality metal with a reputable origin.
Since the introduction, more than 25 refineries have been included in the Platinum and Palladium Sponge Accreditation List. To maintain the accreditation status, refiners must pass a Responsible Sourcing Audit every year and a Proactive Monitoring Process every three years.
About Ravindra Heraeus Private Ltd.
In 1952, Ravindra Choksi laid the foundation in India for the industrial use of platinum and other precious metals. Since then, the family-owned company has been a pioneer in the development of innovative products and solutions for a large variety of industries.
In 1994, the joint venture with Heraeus was established, marking the beginning of a successful partnership in the precious and special metals business. Today, the joint venture belongs to Heraeus’ business unit Heraeus Precious Metals.
About Heraeus Precious Metals
Heraeus Precious Metals is a leading provider of precious metals services and products. We combine all activities related to our comprehensive expertise in the precious metals loop – from trading to precious metals products to recycling. We are one of the world’s largest refiners of platinum group metals (PGMs) and a leading name in industrial precious metals trading. Our precious metals products are used in a wide variety of industries, including the chemical, pharmaceutical, glass, electronics and automotive industries. We offer top quality solutions and products based on many years of experience and technical expertise. We are a reliable development partner for our customers and find the best solutions for their requirements.
About Heraeus
Heraeus, the technology group headquartered in Hanau, Germany, is a leading international family-owned portfolio company. The company’s roots go back to a family pharmacy started in 1660. Today, the Heraeus group includes businesses in the environmental, electronics, health and industrial applications sectors. Customers benefit from innovative technologies and solutions based on broad materials expertise and technological leadership.
In the 2020 financial year, Heraeus generated revenues of €31.5 billion with approximately 14,800 employees in 40 countries. Heraeus is now one of the top 10 family-owned companies in Germany and holds a leading position in its global markets.
