UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



FORM SD



SPECIALIZED DISCLOSURE REPORT

image1.png

BEST BUY CO., INC.

(Exact name of registrant as specified in its charter)





 

 

Minnesota

1-9595

41-0907483

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)





 

7601 Penn Avenue South

 

Richfield, Minnesota

55423

(Address of principal executive offices)

(Zip Code)



Todd G. Hartman (612) 291-1000

(Name and telephone number, including area code, of the person to contact in connection with this report.)





Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:



 Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period January 1 to December 31, 2023

 


 

Section 1  Conflict Minerals Disclosure



Item 1.01 Conflict Minerals Disclosure and Report



Best Buy Co., Inc. has issued a Conflict Minerals Disclosure for the period from January 1, 2023, to December 31, 2023. A copy of the Conflict Minerals Disclosure is filed herewith as Exhibit 1.01 and is available at www.investors.bestbuy.com under the "SEC Filings" link.



Item 1.02 Exhibit



A copy of the Conflict Minerals Report required by Item 1.01 is filed as Exhibit 1.01 hereto.



Section 2 – Exhibits Item 2.01 Exhibits

The following Exhibit 1.01 is filed as part of this Specialized Disclosure Report on Form SD.





 

 

Exhibit No.

 

Description of Exhibit

1.01

 

Conflict Minerals Report for the reporting period January 1, 2023, to December 31, 2023 as required by Items 1.01 and 1.02 of this Form.



SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.





 

 

 



 

 

BEST BUY CO., INC.



 

 

(Registrant)



 

 

 

Date: May 31, 2024

 

By:

/S/ Todd G. Hartman



 

 

Todd G. Hartman



 

 

Executive Vice President, General Counsel,



 

 

Chief Risk Officer and Secretary





 


Exhibit 1.01



Best Buy Co., Inc.

Conflict Minerals Report

For The Year Ended December 31, 2023



This Conflict Minerals Report for Best Buy Co., Inc. (“Best Buy”, “we”, “us” or “our”) covers the reporting period from January 1, 2023 to December 31, 2023, and is presented in accordance with the Securities Exchange Act of 1934, Rule 13p‐1 (the “conflict minerals law”).



This Report describes the design of our 2023 conflict minerals program and provides an account of how due diligence was applied to determine, to the best of our ability, the source, chain of custody, and facilities used to process certain minerals used in Best Buy’s private label products in order to verify that no non‐state armed groups in the Democratic Republic of the Congo (“DRC”) or an adjoining country (“covered country”) directly or indirectly benefitted. It is filed as Exhibit 1.01 to our Specialized Disclosure Report on Form SD and both documents are posted on our website at www.investors.bestbuy.com.



Overview of our Responsible Sourcing Program

Best Buy is committed to respecting human rights and the responsible sourcing of our private label products. We seek to ensure this commitment is fulfilled by engaging our direct suppliers and the smelters and refiners reported to be in our supply chain and, wherever possible, we further embed our commitment through contractual and policy requirements, including a supplier code of conduct that sets specific standards related to labor, health and safety, environmental practices, management systems and ethics, and includes provisions directly relating to the responsible sourcing of raw materials.



We recognize the immense complexity of globalized supply chains requires a collaborative approach to address shared challenges. To that end, Best Buy has a long history of engaging industry peers to develop, share and implement best practices that seek to mitigate supply chain risks. Best Buy served as the chair of the RMI Smelter Engagement Team (“SET”) (2014‐2021) and the co‐chair of the China SET (2016‐2021) to help guide outreach to smelters and refiners to better understand their sourcing practices and encourage their participation in a third‐party audit program.



In 2023, we engaged 78 of our private label suppliers to conduct due diligence on the responsible sourcing of raw materials. The 78 suppliers collectively reported 244 eligible tin, tungsten, tantalum, and gold facilities that may have processed the metals that were necessary to the functionality and/or production of our private label products. Of the 244 reported facilities, more than 87% have successfully completed a third‐party audit that assessed their responsible sourcing policies and practices, or they are in the process of completing a third‐party audit. For those facilities that had not committed to an audit, we conducted outreach to encourage their participation in an audit program or we requested their removal from our supply chain. While there are limitations to our program, such as having no contractual relationship with any smelters or refiners and having to rely on the information provided by several tiers of the supply chain which is challenging to verify, we are unable to confirm that any of the smelters and refiners reported to be in our supply chain sourced from mines that directly or indirectly financed or benefitted non‐state armed groups in the DRC or an adjoining country.

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Products

Best Buy is driven by its purpose to enrich lives through technology and our vision to personalize and humanize technology solutions for every stage of life. We accomplish this by leveraging our combination of technology and a human touch to meet our customers’ everyday needs, whether they come to us online, visit our stores or invite us into their homes. In 2023, we had retail operations in the U.S. and Canada.



We sell private label product categories, under brand names Insignia, Dynex, Rocketfish, Platinum, Best Buy Essentials, and Modal, collectively known as Exclusive Brands (“ExB”), in which we believe contain tin, tungsten, tantalum, and/or gold and are therefore within scope of our Reasonable Country of Origin Inquiry (“RCOI”) and due diligence efforts include the following:





 

Product Category

Product Examples

TV

TVs.

Accessories

Cables, chargers, keyboards, speakers, sound bars, etc.

Appliances

Refrigerators, freezers, washing machines, microwaves, etc.



Reasonable Country of Origin Inquiry

The DRC and its adjoining countries have massive reserves of tin, tantalum, tungsten, and gold (collectively known as “3TG”), all of which are commonly used in the manufacturing of many consumer products. Occasionally, these minerals are illegally mined, transported, taxed, and/or traded in the eastern DRC and surrounding areas by armed groups who use funds derived from these activities to fuel violence and commit human rights violations. As such, these minerals, regardless of where they are mined, are known as “conflict minerals.”



Pursuant to the conflict minerals law, we conducted a RCOI on the source of 3TG necessary to the functionality and/or production of our products (“necessary 3TG”) to determine whether any of the necessary 3TG originated in the DRC and its adjoining countries or were from recycled or scrap sources. As part of our RCOI process, we conducted the following activities:



·

Reviewed past Conflict Minerals Reporting Templates ("CMRTs"), utilized a 3TG risk assessment tool and consulted with our engineering team to identify 78 active, in-scope, first‐tier suppliers we knew or had reason to believe used necessary 3TG in the production of ExB products (“relevant suppliers”);

·

Used the CMRT created by the RMI to survey relevant suppliers, requesting the names of the facilities that processed the necessary 3TG they utilized and the country of origin from which the ores (i.e., unrefined minerals) were sourced;

·

Reviewed information provided by the 78 relevant suppliers to determine the completeness and reasonableness of their responses and verified the processing facilities they identified by comparing against the list of known smelters and refiners as provided by RMI;

·

Reviewed country of origin information available to Best Buy through our membership in RMI (member ID V1720151223); and

·

Conducted additional research on the 3TG processing facilities identified by relevant suppliers, including

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direct contact and reviewing reports from media, government and civil society organizations, to augment the country of origin information gathered through CMRTs and our membership in RMI.



Based on the results of our RCOI, we had reason to believe that some of the necessary 3TG used in ExB products may have been processed by facilities that sourced from the DRC or an adjoining country and may not have been from recycled or scrap sources. In compliance with the conflict minerals law, we then exercised due diligence on the source and chain of custody of the necessary 3TG processed by these facilities that conformed to an internationally recognized due diligence framework.



Due Diligence

To determine, to the best of our ability, the source and chain of custody of the necessary 3TG used in ExB products, we conducted due diligence on our supply chain. Our due diligence measures were developed to ascertain if the minerals originated from the DRC or an adjoining country and, if so, whether armed groups directly or indirectly benefited as a result. Additional measures were designed to mitigate risks identified through the implementation of our due diligence process.



Design of our Due Diligence Measures

Our due diligence process is designed to conform, in all material aspects given our downstream position in the supply chain, to the Organisation for Economic Co‐operation and Development Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict‐Affected and High‐Risk Areas, Third Edition, and the related supplements on tin, tantalum, tungsten and gold (collectively, the “OECD Guidance”), an internationally recognized due diligence framework. In accordance with the OECD Guidance, the design of our due diligence includes, but is not limited to, the following:



1.

Maintaining a strong company management system through the adoption of a Conflict Minerals Policy, the implementation of a conflict minerals governance structure, applying supply chain controls, and strengthened engagement with our suppliers.



2.

Identifying and assessing risks by identifying relevant suppliers to engage in our RCOI and due diligence efforts, determining a reasonable engagement approach to identify smelters and refiners in our supply chain and assess their sourcing practices and reviewing and validating smelter information provided by suppliers to determine risks.



3.

Responding to identified risks by reporting to senior management the findings derived from our RCOI and due diligence efforts, designing training for relevant suppliers to improve their systems of transparency and control, and devising and implementing a risk mitigation strategy that seeks to ensure necessary 3TG in the supply chain are conflict‐free.



4.

Supporting independent, third‐party audits of smelters and refiners’ due diligence via our membership in and support of an industry association that developed a third‐party audit program.



5.

Reporting on due diligence through our Specialized Disclosure and Conflict Minerals Report filed with the SEC and the inclusion of conflict minerals content in our annual Corporate Responsibility & Sustainability 

3


 

(CRS) report.



Due Diligence Measures Performed

We worked with RMI and industry peers to ensure the implementation of our company’s due diligence process was aligned with the OECD Guidance and complemented and amplified the industry’s approach. The primary objective of this alignment was to maximize the efficiency and effectiveness of our efforts to identify smelters and refiners and encourage their participation in RMI’s Responsible Minerals Assurance Process (“RMAP”) or an equivalent program, including the London Bullion Market Association’s (“LBMA”) Good Delivery program and the Responsible Jewellery Council’s (“RJC”) Chain of Custody program. For this reporting period, we performed the due diligence measures described below, many of which go beyond compliance, on the source and chain of custody of necessary 3TG in the ExB supply chain that we knew or had reason to believe originated from the DRC or Covered Countries and may not have been from recycled or scrap sources:



OECD Guidance Step 1: Maintaining a strong company management system

·

We maintained a Conflict Minerals Policy (“Policy”) that specifically requires our suppliers to utilize smelters and refiners (“SORs”) who have successfully completed a third‐party audit of their due diligence practices;

·

The Policy, communicated to all ExB suppliers, also requires in-scope suppliers to have a conflict minerals policy, provide an annual CMRT that identifies the SORs in their supply chain, and apply relevant aspects of the OECD Guidance to their sourcing practices. These requirements were assessed and reinforced when we conducted social compliance audits at supplier factories;

·

Our Policy expectations were further reinforced through our supplier code of conduct and contract language that obliges our suppliers to meet Policy requirements;

·

We maintained a conflict minerals governance structure comprised of an operations team and an executive committee that included the department heads from Legal, External Reporting & Accounting, Corporate Responsibility, Exclusive Brands, Government Affairs, Supply Chain, Merchandising, Best Buy Health, Diversity & Inclusion and Communications & Public Affairs. The program is ultimately managed by our Chief Communications &  Public Affairs Officer;

·

We further strengthened our engagement with relevant ExB suppliers by providing training regarding the conflict minerals law, our policy requirements, and their role in supporting our RCOI and due diligence efforts;

·

We partnered with a third-party software platform to streamline data collection and reporting. The software is linked to the RMI facility database and maintains up-to-date information on Smelter and Refiner operational and conformance status, as well as RCOI information. The tool performs initial data validation checks on our suppliers’ CMRT data and has improved the quality of our suppliers’ CMRT data giving us more visibility to potential risk areas. We have streamlined communication through the platform by providing clear and consistent, automated email guides to drive corrective actions for suppliers, including submission reminders, data errors, and additional actions required; and

4


 

·

We tracked our program performance across a set of Key Performance Indicators (KPIs) as detailed in the table below:





 

Conflict Mineral Program KPIs

 

Percent of relevant ExB suppliers who received training material

100% 

Percent of products containing necessary 3TG that have had their supply chains surveyed

100% 

Percent of relevant ExB suppliers who returned a  CMRT

100% 

Percent of relevant ExB suppliers who have a conflict minerals policy

94% 





OECD Guidance Step 2: Identifying and assessing risks

·

We surveyed relevant suppliers, via RMI’s Conflict Minerals Reporting Template, twice in 2023 to identify the SORs in the ExB supply chain. We required CMRTs be completed at a product level from more than 51% of relevant suppliers in 2023, resulting in more accurate data;

·

All our suppliers’ CMRTs underwent a two-step validation process. They were initially assessed through the software platform for completeness and accuracy and returned to vendors as needed to get additional information. We identified 29 suppliers with incomplete or inaccurate CMRTs and all 29 suppliers returned an updated CMRT. This was followed by a more in-depth review by our team. 9 high risk CMRTs were identified as needing additional corrective action and we will continuously monitor these suppliers for their improvement in the coming year.

·

We reviewed data collected via our RCOI and due diligence efforts to determine if smelters in our supply chain may have been sourcing from a covered country and potentially directly or indirectly financed or benefited armed groups in the DRC or an adjoining country;

·

We conducted outreach to smelters and refiners who had not been audited to determine their level of conformance to the RMI standard or another independent third‐party standard and to encourage their participation in such a program;

·

We directly engaged one smelter to assess its sourcing practices, request country of origin information and/or to better understand the challenges faced to demonstrate its alignment with the OECD Guidance via a third‐party audit;

·

We further assessed the level of risk posed by SORs reported to be in our supply chain via shared industry insights, media, and other stakeholder reports, publicly available information, and the results of third‐ party audits, including audit programs from RMI, LBMA and RJC; and

·

We also identified relevant suppliers that posed a risk of not complying with our contractual and policy requirements related to conflict minerals.



OECD Guidance Step 3: Responding to identified risks

·

We reported the findings of our RCOI and due diligence measures, the subsequent risks identified, and the risk mitigation strategies to the Executive Human Rights Committee;

·

We designed, implemented, and monitored risk mitigation strategies for suppliers who did not comply with our Policy and SORs that had not successfully completed a third‐party audit, including communications that reinforced our policy, providing additional training and support, and conducting audits which included corrective action plans;

5


 

·

We helped smelters and refiners prepare for a RMAP audit and complete corrective action plans post‐ audit, as needed;

·

We monitored progress on SORs who implemented post‐audit corrective action plans through our membership in RMI to ensure improvements were made and the audit successfully passed; and

·

We conducted 3 CMRT validation audits. These audits assess the due diligence capabilities of key ExB suppliers, determine their level of compliance with our contract and policy requirements, support better understanding of their alignment with the OECD Guidance, and build their due diligence capacity to improve sourcing practices and the quality of data received from suppliers.



OECD Guidance Step 4: Supporting independent, third‐party audits of smelter and refiners’ due diligence

·

We contributed to the development and implementation of an effective smelter audit program through our membership in the RMI, which administers the Responsible Minerals Assurance Process audits;

·

We attended the annual RMI conference to gather best practices and collaborate with industry peers.



OECD Guidance Step 5: Reporting on due diligence

·

We disclosed information regarding our due diligence efforts on the sourcing of 3TG via our Specialized Disclosure and the Conflict Minerals Report filed with the SEC and we will include information on our conflict minerals due diligence efforts in our fiscal 2024 CRS Report, which we intend to release in the summer of 2024.



Results of Due Diligence Performed

We conducted the due diligence process described above to identify SORs and ascertain source and chain of custody information for the necessary 3TG in our ExB supply chain.  We exclude products where the supplier merely has affixed brands, trademarks, logos, or labels to generic products manufactured by a third party, as permitted by Securities and Exchange Commission guidance.



In 2023, more than 87% of the processing facilities reported by relevant suppliers have been found conformant to the RMI, LBMA, or RJC standard via an independent, third‐party audit or they have committed to go through an audit. Nevertheless, based on our due diligence process and the subsequent information we gathered, we are unable to determine the origin of all the 3TG used in our products and whether armed groups directly or indirectly benefited. This is primarily due to incomplete information from suppliers who were unable to identify all the SORs used in their supply chain, often because of unwilling or inept upstream actors in their supply chain, company level CMRTs in which we are unable to discern which of the reported SORs processed the necessary 3TG in our products, and the lack of transparency among smelters who have not yet been audited, in particular, gold refiners. Further complicating our ability to determine the origin of all the necessary 3TG is our downstream position in which we have no contractual relationship with upstream actors.



Of the 244 smelters and refiners provided by relevant ExB suppliers, we identified 35 for which we had reason to believe that at least a portion of the 3TG they processed may have originated in the DRC or an adjoining country and may not have been from recycled or scrap sources. All 35 of these processing facilities have been found conformant through RMAP or another independent, third‐party audit program. Furthermore, we have not identified a supplier, smelter, or refiner who we have reason to believe may be sourcing from the DRC or an

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adjoining country and directly or indirectly benefiting armed groups.



We are also aware that allegations, including violence perpetrated by security forces at source mines and ties to corrupt business entities in the sourcing of gold, have been leveled against a few of the smelters reported to be in our supply chain. We take these allegations seriously and we are monitoring third‐party investigations and corrective actions taken by these smelters. Based on the results of these efforts, we may take additional action, up to and including the removal of these smelters from our supply chain.

,

Please see the table below for the status of facilities reported to us by relevant ExB suppliers and see Attachment A for the list of smelters and refiners, their location, and the countries from where they source, which is provided in aggregate by metal.





 

 

 

 

Metal

# of SORs

Conformant (1)

Active or TI‐CMC Member (1)

Unknown (1)

Gold

108

81%

1%

18%

Tantalum

33

97%

0%

3%

Tin

67

93%

0%

7%

Tungsten

36

86%

0%

14%

Totals

244

86%

1%

13%







(1)

Facility status is defined as the following:



 

Facility Status

Status Definition

Conformant

Facilities as of May 6, 2024, that conform with a third‐party due diligence standard

Active or TI‐CMC Member

Facilities that have committed to a RMAP audit or are participating in another independent third‐party audit program

Unknown

Facilities for which we do not know to what degree they conform to the RMAP or another audit program’s standard



Future Steps to Optimize Our Due Diligence Efforts

Best Buy is committed to be a socially and environmentally responsible corporation and this commitment extends throughout the length of our value chain, from the sourcing of raw material to the responsible recycling of products. We recognize that this commitment is a journey and one that we cannot take on our own. This challenge is exacerbated given the complexity of our supply chain, which is, in essence, in a constant state of flux. As a result, we will continue to focus our efforts on collaborating across industries to improve the systems of transparency and control in our supply chain. We will also continue our engagement with relevant suppliers to build their knowledge, so they are able to provide more complete and accurate information on the source of conflict minerals in our ExB supply chain and, furthermore, to impress upon them our expectation that they also apply the OECD Guidance in good faith.



Steps we intend to take in 2024 include:

·

Continue to enhance the system used to store our CMRT results to improve data analysis and reporting;

·

Continue to conduct CMRT Validation audits at key supplier and leverage the learnings from these audits to update our training material that is delivered to all relevant suppliers; and

·

Continue to participate in RMI meetings to gather best practices and collaborate with industry peers.





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Attachment A



Many of the CMRT responses we received from relevant suppliers provided data at a company level, meaning they provided the names of smelters and refiners they believe supplied 3TG for all the products they produced, not just the products they produced for Best Buy. Therefore, the processing facilities listed in the table below represent the smelters and refiners provided by our suppliers, but we do not have sufficient information to confirm whether these are the actual smelters that processed necessary 3TG used in our products. Additionally, we are unable to conclusively determine the country of origin information for our necessary 3TG but based on the data gathered from suppliers, processing facilities, public information and RMI, we believe that the sources may include the countries listed in the table below.



 

 

 

Metal

Processing Facility Name (2)

Location of Facility(2)

Facility Status (3)

Gold

Abington Reldan Metals, LLC

UNITED STATES OF AMERICA

Conformant

Gold

LT Metal Ltd.

KOREA, REPUBLIC OF

Conformant

Gold

Kojima Chemicals Co., Ltd.

JAPAN

Conformant

Gold

MMTC-PAMP India Pvt., Ltd.

INDIA

Conformant

Gold

KGHM Polska Miedz Spolka Akcyjna

POLAND

Conformant

Gold

SAFINA A.S.

CZECHIA

Conformant

Gold

Sichuan Tianze Precious Metals Co., Ltd.

CHINA

Conformant

Gold

Metalor Technologies (Suzhou) Ltd.

CHINA

Conformant

Gold

Aida Chemical Industries Co., Ltd.

JAPAN

Conformant

Gold

Agosi AG

GERMANY

Conformant

Gold

Almalyk Mining and Metallurgical Complex (AMMC)

UZBEKISTAN

Conformant

Gold

AngloGold Ashanti Corrego do Sitio Mineracao

BRAZIL

Conformant

Gold

Argor-Heraeus S.A.

SWITZERLAND

Conformant

Gold

Asahi Pretec Corp.

JAPAN

Conformant

Gold

Asaka Riken Co., Ltd.

JAPAN

Conformant

Gold

Aurubis AG

GERMANY

Conformant

Gold

Bangko Sentral ng Pilipinas (Central Bank of the Philippines)

PHILIPPINES

Conformant

Gold

Boliden Ronnskar

SWEDEN

Conformant

Gold

C. Hafner GmbH + Co. KG

GERMANY

Conformant

Gold

CCR Refinery - Glencore Canada Corporation

CANADA

Conformant

Gold

Chimet S.p.A.

ITALY

Conformant

Gold

DSC (Do Sung Corporation)

KOREA, REPUBLIC OF

Conformant

Gold

Heimerle + Meule GmbH

GERMANY

Conformant

Gold

Heraeus Metals Hong Kong Ltd.

CHINA

Conformant

Gold

Inner Mongolia Qiankun Gold and Silver Refinery Share Co., Ltd.

CHINA

Conformant

Gold

Ishifuku Metal Industry Co., Ltd.

JAPAN

Conformant

Gold

Istanbul Gold Refinery

TURKEY

Conformant

Gold

Japan Mint

JAPAN

Conformant

Gold

Jiangxi Copper Co., Ltd.

CHINA

Conformant

Gold

Asahi Refining USA Inc.

UNITED STATES OF AMERICA

Conformant

Gold

Asahi Refining Canada Ltd.

CANADA

Conformant

Gold

JX Nippon Mining & Metals Co., Ltd.

JAPAN

Conformant

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Gold

Kazzinc

KAZAKHSTAN

Conformant

Gold

Kennecott Utah Copper LLC

UNITED STATES OF AMERICA

Conformant

Gold

LS MnM Inc.

KOREA, REPUBLIC OF

Conformant

Gold

Matsuda Sangyo Co., Ltd.

JAPAN

Conformant

Gold

Metalor Technologies (Hong Kong) Ltd.

CHINA

Conformant

Gold

Metalor Technologies (Singapore) Pte., Ltd.

SINGAPORE

Conformant

Gold

Metalor Technologies S.A.

SWITZERLAND

Conformant

Gold

Metalor USA Refining Corporation

UNITED STATES OF AMERICA

Conformant

Gold

Metalurgica Met-Mex Penoles S.A. De C.V.

MEXICO

Conformant

Gold

Mitsubishi Materials Corporation

JAPAN

Conformant

Gold

Mitsui Mining and Smelting Co., Ltd.

JAPAN

Conformant

Gold

Nadir Metal Rafineri San. Ve Tic. A.S.

TURKEY

Conformant

Gold

Navoi Mining and Metallurgical Combinat

UZBEKISTAN

Conformant

Gold

Nihon Material Co., Ltd.

JAPAN

Conformant

Gold

MKS PAMP SA

SWITZERLAND

Conformant

Gold

PT Aneka Tambang (Persero) Tbk

INDONESIA

Conformant

Gold

PX Precinox S.A.

SWITZERLAND

Conformant

Gold

Rand Refinery (Pty) Ltd.

SOUTH AFRICA

Conformant

Gold

Royal Canadian Mint

CANADA

Conformant

Gold

SEMPSA Joyeria Plateria S.A.

SPAIN

Conformant

Gold

Shandong Zhaojin Gold & Silver Refinery Co., Ltd.

CHINA

Conformant

Gold

Solar Applied Materials Technology Corp.

TAIWAN, REPUBLIC OF CHINA

Conformant

Gold

Sumitomo Metal Mining Co., Ltd.

JAPAN

Conformant

Gold

Tanaka Kikinzoku Kogyo K.K.

JAPAN

Conformant

Gold

Shandong Gold Smelting Co., Ltd.

CHINA

Conformant

Gold

Tokuriki Honten Co., Ltd.

JAPAN

Conformant

Gold

Torecom

KOREA, REPUBLIC OF

Conformant

Gold

Umicore S.A. Business Unit Precious Metals Refining

BELGIUM

Conformant

Gold

United Precious Metal Refining, Inc.

UNITED STATES OF AMERICA

Conformant

Gold

Valcambi S.A.

SWITZERLAND

Conformant

Gold

Western Australian Mint (T/a The Perth Mint)

AUSTRALIA

Conformant

Gold

Yokohama Metal Co., Ltd.

JAPAN

Conformant

Gold

Zhongyuan Gold Smelter of Zhongjin Gold Corporation

CHINA

Conformant

Gold

Gold Refinery of Zijin Mining Group Co., Ltd.

CHINA

Conformant

Gold

WIELAND Edelmetalle GmbH

GERMANY

Conformant

Gold

Ogussa Osterreichische Gold- und Silber-Scheideanstalt GmbH

AUSTRIA

Conformant

Gold

L'Orfebre S.A.

ANDORRA

Conformant

Gold

Italpreziosi

ITALY

Conformant

Gold

T.C.A S.p.A

ITALY

Conformant

9


 

Gold

Korea Zinc Co., Ltd.

KOREA, REPUBLIC OF

Conformant

Gold

TOO Tau-Ken-Altyn

KAZAKHSTAN

Conformant

Gold

Planta Recuperadora de Metales SpA

CHILE

Conformant

Gold

SungEel HiMetal Co., Ltd.

KOREA, REPUBLIC OF

Conformant

Gold

Eco-System Recycling Co., Ltd. North Plant

JAPAN

Conformant

Gold

Eco-System Recycling Co., Ltd. West Plant

JAPAN

Conformant

Gold

NH Recytech Company

KOREA, REPUBLIC OF

Conformant

Gold

Metal Concentrators SA (Pty) Ltd.

SOUTH AFRICA

Conformant

Gold

Chugai Mining

JAPAN

Conformant

Gold

Dowa

JAPAN

Conformant

Gold

Eco-System Recycling Co., Ltd. East Plant

JAPAN

Conformant

Gold

Heraeus Germany GmbH Co. KG

GERMANY

Conformant

Gold

Materion

UNITED STATES OF AMERICA

Conformant

Gold

Ohura Precious Metal Industry Co., Ltd.

JAPAN

Conformant

Gold

Yamakin Co., Ltd.

JAPAN

Conformant

Gold

REMONDIS PMR B.V.

NETHERLANDS

Conformant

Gold

Advanced Chemical Company

UNITED STATES OF AMERICA

Active

Gold

Bangalore Refinery

INDIA

Active

Gold

AU Traders and Refiners

SOUTH AFRICA

Unknown

Gold

JSC Novosibirsk Refinery

RUSSIAN FEDERATION

Unknown

Gold

JSC Uralelectromed

RUSSIAN FEDERATION

Unknown

Gold

Kyrgyzaltyn JSC

KYRGYZSTAN

Unknown

Gold

Moscow Special Alloys Processing Plant

RUSSIAN FEDERATION

Unknown

Gold

OJSC "The Gulidov Krasnoyarsk Non-Ferrous Metals Plant" (OJSC Krastsvetmet)

RUSSIAN FEDERATION

Unknown

Gold

Prioksky Plant of Non-Ferrous Metals

RUSSIAN FEDERATION

Unknown

Gold

SOE Shyolkovsky Factory of Secondary Precious Metals

RUSSIAN FEDERATION

Unknown

Gold

Yunnan Copper Industry Co., Ltd.

CHINA

Unknown

Gold

Marsam Metals

BRAZIL

Unknown

Gold

Emirates Gold DMCC

UNITED ARAB EMIRATES

Unknown

Gold

Al Etihad Gold Refinery DMCC

UNITED ARAB EMIRATES

Unknown

Gold

Singway Technology Co., Ltd.

TAIWAN, REPUBLIC OF CHINA

Unknown

Gold

Samduck Precious Metals

KOREA, REPUBLIC OF

Unknown

Gold

Cendres + Metaux S.A.

SWITZERLAND

Unknown

Gold

Umicore Precious Metals Thailand

THAILAND

Unknown

Gold

SAAMP

FRANCE

Unknown

Gold

8853 S.p.A.

ITALY

Unknown

Gold

Safimet S.p.A

ITALY

Unknown

Tantalum

Global Advanced Metals Aizu

JAPAN

Conformant

Tantalum

Ningxia Orient Tantalum Industry Co., Ltd.

CHINA

Conformant

Tantalum

JiuJiang JinXin Nonferrous Metals Co., Ltd.

CHINA

Conformant

Tantalum

Metallurgical Products India Pvt., Ltd.

INDIA

Conformant

Tantalum

Mitsui Mining and Smelting Co., Ltd.

JAPAN

Conformant

Tantalum

NPM Silmet AS

ESTONIA

Conformant

10


 

Tantalum

Yanling Jincheng Tantalum & Niobium Co., Ltd.

CHINA

Conformant

Tantalum

Ulba Metallurgical Plant JSC

KAZAKHSTAN

Conformant

Tantalum

Resind Industria e Comercio Ltda.

BRAZIL

Conformant

Tantalum

F&X Electro-Materials Ltd.

CHINA

Conformant

Tantalum

Global Advanced Metals Boyertown

UNITED STATES OF AMERICA

Conformant

Tantalum

TANIOBIS Smelting GmbH & Co. KG

GERMANY

Conformant

Tantalum

KEMET de Mexico

MEXICO

Conformant

Tantalum

D Block Metals, LLC

UNITED STATES OF AMERICA

Conformant

Tantalum

TANIOBIS Japan Co., Ltd.

JAPAN

Conformant

Tantalum

Jiujiang Tanbre Co., Ltd.

CHINA

Conformant

Tantalum

TANIOBIS Co., Ltd.

THAILAND

Conformant

Tantalum

Materion Newton Inc.

UNITED STATES OF AMERICA

Conformant

Tantalum

Telex Metals

UNITED STATES OF AMERICA

Conformant

Tantalum

Jiangxi Dinghai Tantalum & Niobium Co., Ltd.

CHINA

Conformant

Tantalum

XinXing HaoRong Electronic Material Co., Ltd.

CHINA

Conformant

Tantalum

FIR Metals & Resource Ltd.

CHINA

Conformant

Tantalum

TANIOBIS GmbH

GERMANY

Conformant

Tantalum

Jiujiang Zhongao Tantalum & Niobium Co., Ltd.

CHINA

Conformant

Tantalum

Jiangxi Tuohong New Raw Material

CHINA

Conformant

Tantalum

XIMEI RESOURCES (GUANGDONG) LIMITED

CHINA

Conformant

Tantalum

Hengyang King Xing Lifeng New Materials Co., Ltd.

CHINA

Conformant

Tantalum

Mineracao Taboca S.A.

BRAZIL

Conformant

Tantalum

QuantumClean

UNITED STATES OF AMERICA

Conformant

Tantalum

Taki Chemical Co., Ltd.

JAPAN

Conformant

Tantalum

AMG Brasil

BRAZIL

Conformant

Tantalum

RFH Yancheng Jinye New Material Technology Co., Ltd.

CHINA

Conformant

Tantalum

Solikamsk Magnesium Works OAO

RUSSIAN FEDERATION

Unknown

Tin

HuiChang Hill Tin Industry Co., Ltd.

CHINA

Conformant

Tin

PT Aries Kencana Sejahtera

INDONESIA

Conformant

Tin

CV Venus Inti Perkasa

INDONESIA

Conformant

Tin

PT Tommy Utama

INDONESIA

Conformant

Tin

PT Bangka Prima Tin

INDONESIA

Conformant

Tin

Super Ligas

BRAZIL

Conformant

Tin

CV Ayi Jaya

INDONESIA

Conformant

Tin

PT Rajehan Ariq

INDONESIA

Conformant

Tin

Yunnan Yunfan Non-ferrous Metals Co., Ltd.

CHINA

Conformant

Tin

Jiangxi New Nanshan Technology Ltd.

CHINA

Conformant

Tin

Rui Da Hung

TAIWAN, REPUBLIC OF CHINA

Conformant

Tin

White Solder Metalurgia e Mineracao Ltda.

BRAZIL

Conformant

Tin

Tin Smelting Branch of Yunnan Tin Co., Ltd.

CHINA

Conformant

Tin

Alpha

UNITED STATES OF AMERICA

Conformant

Tin

Aurubis Beerse

BELGIUM

Conformant

Tin

Thaisarco

THAILAND

Conformant

Tin

Magnu's Minerais Metais e Ligas Ltda.

BRAZIL

Conformant

Tin

Malaysia Smelting Corporation (MSC)

MALAYSIA

Conformant

Tin

China Tin Group Co., Ltd.

CHINA

Conformant

Tin

Aurubis Berango

SPAIN

Conformant

11


 

Tin

Resind Industria e Comercio Ltda.

BRAZIL

Conformant

Tin

Tin Technology & Refining

UNITED STATES OF AMERICA

Conformant

Tin

Metallic Resources, Inc.

UNITED STATES OF AMERICA

Conformant

Tin

Guangdong Hanhe Non-Ferrous Metal Co., Ltd.

CHINA

Conformant

Tin

PT ATD Makmur Mandiri Jaya

INDONESIA

Conformant

Tin

PT Mitra Sukses Globalindo

INDONESIA

Conformant

Tin

PT Menara Cipta Mulia

INDONESIA

Conformant

Tin

Fabrica Auricchio Industria e Comercio Ltda.

BRAZIL

Conformant

Tin

PT Rajawali Rimba Perkasa

INDONESIA

Conformant

Tin

Dowa

JAPAN

Conformant

Tin

Chenzhou Yunxiang Mining and Metallurgy Co., Ltd.

CHINA

Conformant

Tin

PT Babel Surya Alam Lestari

INDONESIA

Conformant

Tin

Mineracao Taboca S.A.

BRAZIL

Conformant

Tin

Minsur

PERU

Conformant

Tin

Mitsubishi Materials Corporation

JAPAN

Conformant

Tin

O.M. Manufacturing (Thailand) Co., Ltd.

THAILAND

Conformant

Tin

Operaciones Metalurgicas S.A.

BOLIVIA

Conformant

Tin

PT Artha Cipta Langgeng

INDONESIA

Conformant

Tin

PT Babel Inti Perkasa

INDONESIA

Conformant

Tin

PT Bukit Timah

INDONESIA

Conformant

Tin

PT Mitra Stania Prima

INDONESIA

Conformant

Tin

PT Prima Timah Utama

INDONESIA

Conformant

Tin

PT Refined Bangka Tin

INDONESIA

Conformant

Tin

PT Sariwiguna Binasentosa

INDONESIA

Conformant

Tin

PT Stanindo Inti Perkasa

INDONESIA

Conformant

Tin

PT Timah Tbk Kundur

INDONESIA

Conformant

Tin

PT Timah Tbk Mentok

INDONESIA

Conformant

Tin

PT Tinindo Inter Nusa

INDONESIA

Conformant

Tin

Yunnan Chengfeng Non-ferrous Metals Co., Ltd.

CHINA

Conformant

Tin

EM Vinto

BOLIVIA

Conformant

Tin

Estanho de Rondonia S.A.

BRAZIL

Conformant

Tin

Fenix Metals

POLAND

Conformant

Tin

Gejiu Non-Ferrous Metal Processing Co., Ltd.

CHINA

Conformant

Tin

CRM Fundicao De Metais E Comercio De Equipamentos Eletronicos Do Brasil Ltda

BRAZIL

Conformant

Tin

PT Sukses Inti Makmur (SIM)

INDONESIA

Conformant

Tin

PT Cipta Persada Mulia

INDONESIA

Conformant

Tin

CRM Synergies

SPAIN

Conformant

Tin

PT Bangka Serumpun

INDONESIA

Conformant

Tin

PT Putera Sarana Shakti (PT PSS)

INDONESIA

Conformant

Tin

Chifeng Dajingzi Tin Industry Co., Ltd.

CHINA

Conformant

Tin

Luna Smelter, Ltd.

RWANDA

Conformant

Tin

O.M. Manufacturing Philippines, Inc.

PHILIPPINES

Conformant

Tin

Ma'anshan Weitai Tin Co., Ltd.

CHINA

Unknown

Tin

Gejiu Yunxin Nonferrous Electrolysis Co., Ltd.

CHINA

Unknown

Tin

Gejiu Kai Meng Industry and Trade LLC

CHINA

Unknown

Tin

Melt Metais e Ligas S.A.

BRAZIL

Unknown

12


 

Tin

Gejiu Zili Mining And Metallurgy Co., Ltd.

CHINA

Unknown

Tungsten

Kennametal Huntsville

UNITED STATES OF AMERICA

Conformant

Tungsten

TANIOBIS Smelting GmbH & Co. KG

GERMANY

Conformant

Tungsten

Global Tungsten & Powders LLC

UNITED STATES OF AMERICA

Conformant

Tungsten

Japan New Metals Co., Ltd.

JAPAN

Conformant

Tungsten

Xiamen Tungsten Co., Ltd.

CHINA

Conformant

Tungsten

Xiamen Tungsten (H.C.) Co., Ltd.

CHINA

Conformant

Tungsten

Fujian Xinlu Tungsten Co., Ltd.

CHINA

Conformant

Tungsten

Cronimet Brasil Ltda

BRAZIL

Conformant

Tungsten

H.C. Starck Tungsten GmbH

GERMANY

Conformant

Tungsten

Asia Tungsten Products Vietnam Ltd.

VIET NAM

Conformant

Tungsten

Masan High-Tech Materials

VIET NAM

Conformant

Tungsten

Hunan Shizhuyuan Nonferrous Metals Co., Ltd. Chenzhou Tungsten Products Branch

CHINA

Conformant

Tungsten

Jiangwu H.C. Starck Tungsten Products Co., Ltd.

CHINA

Conformant

Tungsten

Jiangxi Gan Bei Tungsten Co., Ltd.

CHINA

Conformant

Tungsten

Jiangxi Tonggu Non-ferrous Metallurgical & Chemical Co., Ltd.

CHINA

Conformant

Tungsten

Jiangxi Xinsheng Tungsten Industry Co., Ltd.

CHINA

Conformant

Tungsten

Jiangxi Yaosheng Tungsten Co., Ltd.

CHINA

Conformant

Tungsten

Kennametal Fallon

UNITED STATES OF AMERICA

Conformant

Tungsten

Malipo Haiyu Tungsten Co., Ltd.

CHINA

Conformant

Tungsten

Chongyi Zhangyuan Tungsten Co., Ltd.

CHINA

Conformant

Tungsten

Ganzhou Jiangwu Ferrotungsten Co., Ltd.

CHINA

Conformant

Tungsten

Ganzhou Seadragon W & Mo Co., Ltd.

CHINA

Conformant

Tungsten

Hunan Chenzhou Mining Co., Ltd.

CHINA

Conformant

Tungsten

Philippine Chuangxin Industrial Co., Inc.

PHILIPPINES

Conformant

Tungsten

China Molybdenum Tungsten Co., Ltd.

CHINA

Conformant

Tungsten

Lianyou Metals Co., Ltd.

TAIWAN, REPUBLIC OF CHINA

Conformant

Tungsten

Wolfram Bergbau und Hutten AG

AUSTRIA

Conformant

Tungsten

Guangdong Xianglu Tungsten Co., Ltd.

CHINA

Conformant

Tungsten

Hubei Green Tungsten Co., Ltd.

CHINA

Conformant

Tungsten

Niagara Refining LLC

UNITED STATES OF AMERICA

Conformant

Tungsten

A.L.M.T. Corp.

JAPAN

Conformant

Tungsten

Unecha Refractory metals plant

RUSSIAN FEDERATION

Unknown

Tungsten

Hydrometallurg, JSC

RUSSIAN FEDERATION

Unknown

Tungsten

Moliren Ltd.

RUSSIAN FEDERATION

Unknown

Tungsten

ACL Metais Eireli

BRAZIL

Unknown

Tungsten

Hunan Jintai New Material Co., Ltd.

CHINA

Unknown

Country of origin for the mined and recycled Gold processed by the facilities listed above may include:

Algeria, Andorra, Antigua and Barbuda, Argentina, Australia, Austria, Azerbaijan, Bahamas, Bangladesh, Barbados, Belarus, Belgium, Benin, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Cayman Islands, Chile, China, Colombia, Democratic Republic of the Congo, Costa Rica, Côte d'Ivoire, Croatia, Curacao, Cyprus, Czech Republic, Denmark, Dominican Republic, Ecuador, Egypt, El Salvador, Estonia, Fiji, Finland, France, French Guiana, Georgia, Germany, Ghana, Greece, Grenada, Guatemala, Guinea, Guyana, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Republic of Korea, Kuwait, Kyrgyzstan, Lao People's Democratic Republic, Latvia, Lebanon, Liberia, Liechtenstein, Lithuania, Luxembourg, Macao, Malaysia, Mali, Malta, Mauritania, Mauritius, Mexico, Monaco, Mongolia, Morocco, Mozambique, Namibia, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Oman, Pakistan, Panama, Papua New Guinea, Peru, Philippines, Poland, Portugal, Puerto Rico, Romania, Russia, Saint Kitts and Nevis, Saudi Arabia, Senegal, Serbia, Singapore, Sint Maarten, Slovakia, Slovenia, South Africa, Spain, St Vincent and Grenadines, Sudan, Suriname, Sweden, Switzerland, Taiwan Republic of China, Tajikistan, Tanzania, Thailand, Trinidad and Tobago, Tunisia, Turkey, Turks and Caicos, Ukraine, United Arab Emirates, United Kingdom of Great Britain and Northern Ireland, United States of America, Uruguay, Uzbekistan, Viet Nam, Zambia, Zimbabwe

13


 

Country of origin for the mined and recycled Tantalum processed by the facilities listed above may include:

Australia, Belarus, Brazil, Burundi, Canada, China, Democratic Republic of the Congo, Czech Republic, El Salvador, Estonia, Ethiopia, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Japan, Korea, Republic of, Madagascar, Mexico, Mozambique, Nigeria, Russia, Rwanda, Sierra Leone, Singapore, Spain, Taiwan Republic of China, Thailand, United Kingdom of Great Britain and Northern Ireland, United States of America

Country of origin for the mined and recycled Tin processed by the facilities listed above may include:

Argentina, Australia, Austria, Bangladesh, Belarus, Belgium, Bolivia, Brazil, Bulgaria, Burundi, Canada, Chile, China, Democratic Republic of the Congo, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Finland, France, Germany, Greece, Honduras, Hong Kong, Hungary, India, Indonesia, Ireland, Israel, Italy, Japan, Jordan, Republic of Korea, Laos, Latvia, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Mongolia, Morocco, Myanmar, Netherlands, New Zealand, Nigeria, Pakistan, Peru, Philippines, Poland, Portugal, Puerto Rico, Romania, Russia, Rwanda, Saudi Arabia, Serbia, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Taiwan Republic of China, Tanzania, Thailand, Tunisia, Turkey, United Arab Emirates, United Kingdom, United States of America, Uruguay, Vietnam

Country of origin for the mined and recycled Tungsten processed by the facilities listed above may include:

Austria, Bolivia, Brazil, Burundi, China, Democratic Republic of the Congo, Germany, India, Ireland, Israel, Japan, Kazakhstan, Republic of Korea, Malaysia, Mexico, Mongolia, Myanmar, Netherlands, Nigeria, Portugal, Russia, Rwanda, Singapore, Spain, Taiwan Republic of China, Tanzania, Thailand, Turkey, Uganda, United Kingdom of Great Britain and Northern Ireland, United States of America, Vietnam



   



(1)

Facility name and location as reported by the Responsible Minerals Initiative.

(2)

Facility status is defined as the following:





 

Facility Status

Status Definition

Conformant

Facilities as of May 6, 2024, that conform with a 3rd party due diligence audit standard

Active

Facilities that have committed to a RMAP audit or are participating in another independent third‐party audit program

Unknown

Facilities for which we do not know to what degree they conform to the RMAP or another audit program’s standard





14



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