Responsible Precious Metals Sourcing

We take all reasonable steps to ensure that the precious metals in our value chain originate from legal and ethical sources. Therefore, we systematically adhere to the strictest standards. Compliance with laws, regulations, and our own company policies is rigorously integrated into our processes.

Heraeus Precious Metals works only with mining companies that underwent an on-site assessment conducted by us or a third party. We strive to have a positive impact on the people, environment and communities in our upstream value chain and continue to drive our efforts and support the efforts of our mining partners to mitigate any negative impact.

Our precious metal recycling keeps valuable material in the economic loop. We are tirelessly working with our partners who send us secondary material for recycling to ensure appropriate policies and processes are in place at intermediate collectors and refiners. Our goal is to prevent mining material or stolen material from entering the supply chain through presumed recycling material.

If precious metal suppliers do not meet our standards, we refuse to enter into a business relationship with them. We terminate existing relationships if violations are detected that cannot be resolved or corrected. Our system for responsible precious metal sourcing is certified by all major responsible precious metals sourcing frameworks such as RMI, RJC, LBMA, and LPPM.

The Heraeus Group has defined an exhaustive and strict framework including respect for human rights, prevention of child and forced labor, environmental and social aspects, prevention of money laundering, prevention of corruption and bribery and prevention of financing of terrorism. This framework is anchored in the Heraeus Code of Conduct, Supply Chain Due Diligence Policy, and Human Rights Policy.

Heraeus Precious Metals furthermore applies additional frameworks for responsible precious metals sourcing through the Supplier Code of Conduct and Heraeus Supply Chain Due Diligence Policy. These consider potential impacts on people as well as environment and communities along our supply chain. They are applied to all our precious metal suppliers and their precious metals sources.

Appropriate due diligence is conducted for all our precious metal suppliers to ensure the clarification of material sources. Our compliance management system ensures the processes are followed and documented in a thorough way.

Our engagement with precious metal suppliers in CAHRA countries (conflict-affected and high-risk areas) requires even stricter recycling and mining partner onboarding that as a minimum meets and in most cases surpasses internationally recognized industry standards, such as the LBMA, LPPM, RMI, or RJC. After onboarding, recycling and mining partners are subject to continuous monitoring, periodic Know Your Customer (KYC) updates, and if needed, on-site assessments conducted by specialists from Heraeus Precious Metals or independent third-parties. Additionally, we work with improvement roadmaps to commit partners on improvements.

We define our CAHRA list with the most care and the broadest approach possible. Thereby, we include OECD, UN, EU, national, NGO, Environmental and political index resources (e.g., FATF, CPI, etc.) as well as our own expertise to get a holistic view.

We know that engaging with our stakeholders has the greatest potential for positive impact. We are in contact with all relevant stakeholders in the precious metals value chain. This starts with our own customers – especially mining and recycling partners – and extends to legislators on national, supranational, and international level, NGOs and industry associations. During on-site mine assessments, we also seek the exchange with unions, communities, and local governments.

Through our participation in the IPA (International Platinum Group Metals Association), EPMF (European Precious Metals Federation) and FVEM (Fachvereinigung Edelmetalle) we are in regular contact with other market participants as well as national and international legislators such as the EU Commission and the OECD. Furthermore, we engage in responsible mining projects such as Fairmined, Fairtrade Gold and Swiss Better Gold initiative.

Heraeus Precious Metals is a member of several industry associations and organizations:

Heraeus Precious Metals is certified by all major responsible Precious Metals sourcing frameworks such as LBMA, LPPM, RMI and RJC. The applicable certifications are depending on the scope of our production site regarding refined or recycled precious metals. All processes audited for the sites and respective metals are applied companywide and across all metals notwithstanding the scope of the acquired certificates.

Please submit the form and you will receive the current Conflict Mineral Report Template (CMRT) via email.