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Russia Related Sanctions on Gold Smelters

In light of the government sanctions against Russia, six Russia-based gold refiners which had been cross-recognized by the RMI have been suspended from the LBMA Good Delivery List and moved to a non-conformant status.

The Responsible Minerals Assurance Process (RMAP) requires all auditees to conduct know-your-customer (KYC) and sanctions checks on their suppliers to ensure required corrective actions are in place. Please click here for the RMI Statement on Russia-Related Sanctions.

The RMI is monitoring the situation as it evolves and recommends that companies consult with their legal counsel for the direct impacts on their operations and supply chains. In addition, given the context, members can also prioritize applying enhanced supply chain due diligence in line with international standards to ensure they are:

  • Protecting physical safety & mental well-being of employees
  • Compliance with international sanctions
  • Not causing or, through their business relationships, contributing to adverse human rights impacts
  • Following internationally accepted principles for responsible disengagement to mitigate unintended consequences, if suspending operations temporarily or permanently
  • Participating in remediation where appropriate, including where directly linked to adverse human rights impact through business relationships

For more information on how Source Intelligence/Total Parts Plus can assist you with meeting your conflict mineral reporting needs and completing your due diligence please visit our website.