In 2024, Implats was proud to become the first multi-metal producer to achieve certification under the Responsible Minerals Assurance Process Standard for its responsible sourcing of metals — PGMs, gold, silver, copper, nickel and cobalt.
Our actions to build a responsible mineral supply chain are driven by our values and purpose and supported by our code of ethics and the Group’s responsible sourcing of metals policy, which provides a robust framework to steer our counterparties in terms of our expectations.
The Group has an established responsible sourcing committee, chaired by the Group executive: marketing and refining, to conduct the necessary due diligence on mineral suppliers. The committee sits quarterly and reports directly to the Group Exco.
The Financial Action Task Force’s (FATF) greylisting of South Africa as a country with higher risk of money laundering and terrorism financing requires that we conduct advanced due diligence on our South African counterparties, including but not limited to, screening of the entity and its board members for reports of financial crimes, reviews of audited financial statements, tax clearance certificates and on-the-ground due diligence audits for Organisation for Economic Co-operation and Development (OECD ) Annex II risks.
In 2024, we continued to meet all the requirements of the London Platinum and Palladium Market’s (LPPM’s) Responsible Platinum and Palladium Guidance and retained LPPM certification. The responsible sourcing committee also carried out on-the-ground due diligence audits of counterparties supplying cobalt-bearing materials, in line with the Responsible Minerals Initiative Standard, to establish the potential existence of OECD Annex II risks in our supply chain (including threats of torture, child or forced labour, gross human rights abuses, fraudulent misrepresentation of the origin of minerals and money laundering).
In parallel, an Exco-approved review was conducted of our responsible sourcing policy, to increase coverage beyond platinum and palladium supply chains and cover all the metals, including base metals, that we source and produce. Audits confirmed that there were no OECD Annex II risks in the Group’s supply chain.