After years of practicing responsible and sustainable business, we got formally rated.

Since its founding in 2004, Auramet has always integrated corporate responsibility principles into its daily activities and remained ahead of the industry in this regard.

Over the years, the issues around good relationships with host communities, water and energy use, waste management, governance, diversity, and health and safety have been increasing in importance, and the concerns about greenhouse gas (GHG) emissions have accelerated even faster. For Auramet, this has been evident from the interactions with our customers, suppliers, banks, investors etc. In 2021, we formalized our longstanding practices by issuing our first Sustainability Report and obtaining our first ESG rating.

Sustainability

Sustainability

Annual Sustainability Report

Auramet has structured its report after carefully reviewing the Global Report Initiative (GRI), the AA1000 Principles Standards, and the United Nations Sustainable Development Goals. We will continue to reference these standards, keep track of new ones that emerge, and maintain an active dialogue with our stakeholders to stay current with best practices and expectations within our industry.  

Our annual Sustainability Report summarizes our policies and approach to responsible and sustainable business practices. The report, updated each October, highlights the progress we made during the previous fiscal year with respect to environmental, social, and governance matters, as well as outlining new goals.

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Sustainability

EcoVadis Rating

In 2021, Auramet began the process of obtaining an ESG rating in order to quantify our sustainability credentials. By partnering with a respected rating company, Auramet knew it would also have the benefit of staying current on the sustainability best practices. After researching various options, we engaged with EcoVadis.

Founded in 2007, EcoVadis has become the world’s largest and most trusted provider of sustainability ratings. With the experience EcoVadis has gained after rating more than 90,000 companies, Auramet believed that it could greatly benefit from the knowledge EcoVadis acquired over those years.

We received our first sustainability rating in June 2022 and our score ended up being in the top 10 percent of all companies rated by EcoVadis up to that time.  The score is derived from the sustainability assessment methodology used by EcoVadis to determine how well a company has integrated sustainability and CSR principles into their business. Assessed by international experts, tailored to industrial sector, country, and company size, and judged by the technology utilized to ensure a secure and reliable process, the assessment methodology of EcoVadis is evidenced-based and rewards continuous improvement.

In 2023 and 2024, Auramet renewed its rating, and each time maintained its position in the top 10 percent of the 150,000 companies rated by EcoVadis. Auramet is very proud of this accomplishment and proud of our affiliation with the leading company in this sector.

Sustainablilitiy

Focus Areas

Business Operations

Comply with all laws and regulations and ensure that our employees abide by a strict Code of Conduct.

Social Impact

Avoid infringing human rights, address harms that may occur, do not discriminate, and earn and maintain a social license to operate. Conduct our business safely to protect the health and well being of our employees and our stakeholders. Attract, develop and retain the best people in a working environment that promotes integrity, diversity, equal opportunity and mutual respect.

Environment

Minimize any adverse impacts on the environment, either directly or indirectly, and be particularly conscious of the effects of climate change.

Governance

Create and maintain a proper structure for the company and an environment that allows a broadening of sustainability efforts. Ensure that AML and anti-bribery standards are addressed with diligence and respect global sanctions. Monitor and keep records, maintain internal training to ensure consistency in these and other matters, be diligent, and stay current when it comes matters such as cybersecurity.

Sustainability

Stakeholders

Auramet's key stakeholders are local, national, and international. As a merchant of metals, a financier, and an advisor to mining companies, we operate within a multifaceted legislative and social environment. We regularly engage with our stakeholders to understand their concerns, share opinions and best practices, and generally stay current on sustainability. Our stakeholders are summarized below.

Investors & Debt Providers

Equity and debt investors provide the capital essential to support our merchanting and financing activity.

Customers

Customers range from banks to refiners to automobile companies to catalyst manufacturers and other industrial concerns.

Employees

It is our people who make our business run through their knowledge, skills, and dedication to providing first-class service.

Suppliers

What Auramet sells is only as good as what Auramet buys. We have a long and deep relationship with our suppliers.

Industry Associations

Industry associations not only promote the industry, but increasingly promote sustainability within it.

Government & Non-Government Associations

Government, not for profit, advocacy, or pressure groups focused on the metals sector generally work toward the collective benefit.

Sustainability

In 2024, Auramet became a Strategic Partner to Regeneration, an international social enterprise that converts mine waste into responsible minerals and turns degraded lands into ecological and community assets. 

By extracting minerals and metals from mine waste to provide responsibly sourced materials for sustainable brands and the green energy transition, Regeneration can fund habitat restoration at old mining sites and bring new life to communities, so that they may “begin again.” Regeneration works in partnership with local and Indigenous communities, governments, sustainable brands, and strategic business partners in the mining, technology, and remediation and restoration sectors.

Auramet has joined Regeneration as a Strategic partner, providing support across a range of activities including project finance strategy, supply chain logistics and site scouting. Auramet joins other partners including Rio Tinto, Apple, Mejuri, Paul Hastings and CobaltBlue. Find out more about Regeneration and ways to participate here.

Sustainability

Corporate Governance

Auramet has always conducted itself with the highest sense of ethical standard consistent with, and in compliance with, all international laws, regulations, and guidelines. Each employee of Auramet must annually review our code of conduct which covers how we are each expected to deal with fellow employees, banks, suppliers, the communities we operate around, and federal, state, and local authorities.  Once they have reviewed the code of conduct within our Employee Handbook, each employee must commit with their signature to abide by it.

Auramet’s Sustainability Committee reports directly to the board of directors and briefs them on a quarterly basis. The Committee itself, which includes our co-founder and CFO, our chief legal officer, our treasurer, and our head of sustainability, meets quarterly to review our corporate governance responsibilities, as well as those related to our environmental and social obligations.

Responsible Sourcing Policy and Code of Conduct

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Statement of Anti-Money Laundering

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Sustainability and Sourcing Terms and Conditions

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Sustainability

Supply Chain

Auramet has structured its report after carefully reviewing the Global Report Initiative (GRI), the AA1000 Principles Standards, and the United Nations Sustainable Development Goals. We will continue to reference these standards, keep track of new ones that emerge, and maintain an active dialogue with our stakeholders to stay current with best practices and expectations within our industry.  

The commodity trading industry has evolved over the past years through legislation, regulation and self-imposed best practice standards. Whether it is the London Metal Exchange responsible sourcing requirements, the OECD Due Diligence Guide, the EU and US Conflict Minerals regulations, or other standards/guidelines issued by relevant industry associations, Auramet stays on top of all of them to ensure that we are looked to as a leader in corporate responsibility when it comes to sourcing from point of origin to distribution at point of sale.  This policy, and the program and due diligence procedures that implement it, are founded upon our general standards of business conduct, a commitment to conduct our business in a culture of honesty and opposition to fraud; a desire to maintain high moral, ethical and social standards in our business and activities; maintain accurate and honest records; honor all our business obligations; and maintain proper business relationships with all individuals, including government officials and employees.

We implement our due diligence policy through a comprehensive management system. This system will not only carry forward the general standards of business conduct set forth above but will also direct our compliance with laws and any guidance that addresses or bears upon our acquisition of precious metals, not only in our internal business conduct, but in our outside commercial relationships and transactions. In that regard we commit to the following:

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We will neither tolerate nor profit from, contribute to, assist or facilitate the commission of (A) torture, cruel, inhuman and degrading treatment; (B) forced or compulsory labor; (C) the worst forms of child labor; (D) human rights violations and abuses; (E) war crimes, violations of international humanitarian law, crime against humanity or genocide.

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We will not deal with, and will immediately discontinue engagement with, upstream suppliers where we identify a reasonable risk that they are committing or are sourcing from or linked to any party committing, abuses described above.

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We will not tolerate direct or indirect support to non-state armed groups, including, but not limited to, procuring precious metals from, making payments to or otherwise providing assistance or equipment to, non-state armed groups or their affiliates who illegally control mine sites, transportation routes, points where precious metals are traded and upstream actors in the supply chain; and/or tax or extort money or precious metals at mine sites, along transportation routes or at points where they are traded, or from intermediaries, export companies or international traders.

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We will not deal with and will immediately discontinue engagement with upstream suppliers where we identify a reasonable risk that they are sourcing from, or linked to, any party providing direct or indirect support to non-state armed groups as described above.

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We affirm that the role of public or private security forces is to provide security to workers, facilities, equipment and property in accordance with the rule of law, including law that guarantees human rights. We will not provide direct or indirect support to public or private security forces that commit abuses or that act illegally as described above.

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We will not attempt to improperly influence others or offer, promise, give or demand bribes or kickbacks in any form, and will resist their solicitation, and will not permit Company funds, assets or property to be used to benefit any individuals, including government officials, our customers, contractors and suppliers illegally or in ways that violate this policy.

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We will not disguise the origin of precious metals, or misrepresent taxes, fees and royalties paid to governments for the purpose of extraction, trade, handling, transport and export of gold.

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We will support efforts and contribute to the effective elimination of money laundering where we identify a reasonable risk of money-laundering resulting from, or connected to, the extraction, trade, handling, transport or export of precious metals.

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We require our employees, agents, consultants, and business partners to comply with this policy, and will enforce it with appropriate disciplinary measures, up to and including termination of employment or contacts

Sustainability

Environment

Although we play a significant role in the precious metals market as a physical merchant, we do not own mines, refining companies, storage facilities, or any other industrial or transportation asset.  As such, we have no direct environmental footprint.  Nevertheless, we have indirect exposure and feel strongly about our obligation to ensure that our suppliers as well as those companies in the supply chain who store, transport, or refine metals engage in best practices when it comes to managing their impact on the environment from those activities.  Some of the commodities we trade can pose significant social and environmental risks if not handled properly when being produced/refined. While the severity of these risks varies according to the type of commodity and the stage of its production, we minimize such risks through due diligence and insist that our clients manage them responsibly.

We are pleased that 100% of the precious metals refiners we send our metal to or buy our metal from are on the LBMA or LPPM Good Delivery Lists and are required to implement the respective responsible sourcing guidance of these organizations.  

Originally intended to combat money laundering, terrorist financing, and human rights abuses, the guidance of each organization has also been developed to recognize the importance of strong environmental responsibilities. The teeth behind the guidance is that the LBMA or LPPM has the power to remove any refining company from the list if it finds that it failed to adhere to the guidance. We maintain close relationships with the refining companies and are proud to retain their services from an environmental standpoint.

Recycling

Auramet is proud that a significant and growing volume of the precious metals it sources come from recyclers. By enabling the reuse of precious metals recovered from such various products as cell phones, computers, medical x-rays, flatware, batteries, motion film, discarded electronics, and catalytic converters in automobiles, Auramet has been pleased since its inception to be on the forefront of sustainability in this regard as well. That precious metals can be recycled continually only adds to the attraction of this activity to our business model and overall environmental footprint.

Auto Catalysts

A huge and still growing volume of the precious metal volumes we sell are critical to the world’s accelerating efforts to reduce air pollution and reduce harmful emissions. 85% of the world’s palladium production, 85% of its rhodium production, and 40% of its platinum production are used to produce catalytic converters, which transform toxic fumes from gasoline and diesel burning engines into harmless gasses. By enabling significant reductions in carbon monoxide, hydrocarbons, particulate matter, sulfur oxides, and nitrogen oxides, auto catalysts have greatly assisted global efforts to reduce air pollution.

Increasingly tighter standards from governments in the major regions (USA, Europe, and China) around engine emissions have increased the demand for the three metals over the years. When hybrid vehicles increased in popularity, still more PGMs had to be used to counteract the increased emissions that are caused when a cold engine is started (the so called ‘cold start’ issue). Through all these changes which assist the world’s efforts to combat pollution, Auramet has remained a dominant merchant of PGMs to this specific market and will continue to responsibly source them for our clients as they look to stay ahead of continually changing regulations.