Aurubis once again successfully audited for conflict-free gold in accordance with LBMA
Hamburg | Wednesday, January 25, 2017
Aurubis, the leading integrated copper group and the world’s largest copper recycler, was once again successfully audited for the processing of conflict-free gold raw materials in accordance with the London Bullion Market Association (LBMA) – for the fourth consecutive time since 2013. The latest audit was carried out in November 2016 by the independent assessor TÜV Nord, and Aurubis has now received the audit certificate.
In 2013, the company developed a group-wide Gold Supply Policy that is oriented to the requirements of the Gold Guidance of the LBMA and is based on Annex II of the OECD Due Diligence Guidance for conflict minerals. The recent successful external audit and the accompanying LBMA “Good Delivery” status once again establish the conflict-free nature of the materials Aurubis uses.
“We are pleased that, as in previous years, the audit was successful in 2016 as well,” remarked Jürgen Schachler, Executive Board Chairman of Aurubis AG.
The audit confirmed our responsible business approach. At the same time, it affirmed our sustainable conduct and economic activities, which we will continue to uphold in the future. In doing so, Aurubis will maintain its focus on responsibility in the supply chain.
During the recent audit at the company’s headquarters in Hamburg, TÜV Nord again reviewed whether the high requirements for the procurement of gold-bearing raw materials are being fulfilled. The key points of this audit are the policies in place for sourcing raw materials from possible conflict sources and the integration and implementation of these policies in the business processes. One aspect of these business processes is a risk-oriented procedure for verifying suppliers’ identity and integrity (Business Partner Screening).
Aurubis produced 42 t of gold in fiscal year 2015/16.
Sustainable conduct and business activities have high priority at Aurubis. In 2013, Aurubis defined a group-wide Sustainability Strategy that built on what the company had achieved at that point and that enables this sustainable approach to be developed systematically.
With its Sustainability Strategy, Aurubis’ objective is to strike a balance between economic success, the environment and people. In addition to achieving economic targets, the company’s daily business involves efficiently using resources and limiting environmental impacts as much as possible, as well as having a responsible attitude when it comes to people.
Aurubis sources primary and secondary raw materials for copper production in its Business Units Primary Copper and Copper Products. Primary raw materials and many materials for recycling, such as electronic scrap, contain gold. By distributing the purchasing volume among a number of different suppliers, the company protects itself from significant dependencies and from fluctuations on the global market, thus increasing the security of the raw material supply.