At Prospec Industrial, we are committed to responsible and sustainable business practices, including the responsible sourcing and use of minerals. We recognize that certain minerals, such as tantalum, tin, tungsten, and gold, may originate from regions where their extraction and trade contribute to human rights abuses and conflict.
Our Conflict Minerals Policy is based on the following principles:
1. Responsible Sourcing: We are committed to sourcing minerals from responsible and conflict-free supply chains. We work diligently to ensure that the minerals used in our products do not directly or indirectly finance armed conflict, human rights abuses, or unethical practices.
2. Supply Chain Due Diligence: We conduct comprehensive due diligence on our supply chain to identify the origin of minerals used in our products. We expect our suppliers to provide accurate and reliable information regarding the source of minerals and to demonstrate their commitment to responsible sourcing.
3. Transparency and Reporting: We strive for transparency in our supply chain by encouraging our suppliers to adopt responsible sourcing practices. We communicate our expectations to them and request that they disclose information about the origin and chain of custody of minerals. We also collaborate with industry initiatives and participate in relevant reporting frameworks to enhance transparency.
4. Supplier Engagement: We actively engage with our suppliers to promote responsible mineral sourcing. We encourage them to establish robust policies and procedures to ensure responsible sourcing practices throughout their supply chains. We support suppliers in understanding and implementing internationally recognized frameworks, such as the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals.
5. Continuous Improvement: We are dedicated to continuously improving our practices and mitigating the risk of sourcing minerals linked to conflict and human rights abuses. We regularly review and update our policies and procedures to align with evolving industry standards and best practices.
We are committed to upholding this Conflict Minerals Policy and integrating responsible mineral sourcing practices into our operations. We believe that by doing so, we can contribute to positive social and environmental impacts in the regions where minerals are sourced.
Prospec Industrial is dedicated to meeting our legal obligations and promoting responsible business practices. We encourage our employees, suppliers, and stakeholders to embrace this policy and join us in our commitment to responsible mineral sourcing.