Responsible Precious Metals Sourcing

We take all reasonable steps to ensure that the precious metals in our value chain originate from legal and responsible 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 only works 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 we continue to support the efforts of our mining partners to mitigate any negative impact.

Our precious metals 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.

We refuse to enter into a business relationship with any precious metals suppliers who do not meet our standards. We terminate existing relationships if violations are detected that cannot be resolved or corrected. Heraeus Precious Metals is certified by all major responsible precious metals sourcing frameworks, such as London Bullion Market Association (LBMA), London Platinum and Palladium Market (LPPM), Responsible Minerals Initiative (RMI), and Responsible Jewellery Council (RJC). 

Applying Enhanced Due Diligence 

We conduct appropriate due diligence for all precious metals suppliers of our recycling and refining bussiness to clarify the origin of the materials. Our compliance management system ensures that processes are followed and thoroughly documented.  

After onboarding, the precious metals business partners of our recycling and refining business are subject to continuous monitoring and periodic Know Your Business Partner (KYBP) checks. If needed, on-site assessments are conducted by Heraeus Precious Metals specialists or third parties. Additionally, we work with corrective action plans to commit partners to improvements. 

Our engagement with precious metals 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 LBMA, LPPM, RMI, or RJC.

We document the regions we consider to be CAHRA  in our internal standard operating procedure. These regions are assessed using  internationally recognized indices, such as the Global Risk Index, the Heidelberg Institute for Internal Conflict Index, and the Corruption Perception Index, as well as the EU’s CAHRA List and sanctions lists from the EU, USA, and the UN.

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. 

The Heraeus Supply Chain Due Diligence Policy furthermore outlines our supplier due diligence process, which is applicable to all suppliers and precious metals business partners. It also considers potential impacts on people as well as environment and communities along our supply chain.  

We know that driving positive change is a collaborative effort. Therefore, we are in contact with all relevant stakeholders in the precious metals value chain. This includes our customers, especially mining and recycling partners, as well as legislators at the national, supranational, and international levels, 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 (IPA), the European Precious Metals Federation (EPMF), and the Fachvereinigung Edelmetalle (FVEM), we regularly interact 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, and Swiss Better Gold. 

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 depend on the scope of our production site regarding refined or recycled precious metals. All processes audited for the sites and respective metals are applied company-wide and across all metals, regardless of the scope of the acquired certificates. 

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