Guidance
LPPM RESPONSIBLE PLATINUM AND PALLADIUM SOURCING
The London Platinum and Palladium Market (the “LPPM”) introduced its Responsible Sourcing Programme (the “Programme”) in January 2019.
It is mandatory for every member of the LPPM Good Delivery Lists and Sponge Accreditation Lists (together, the “Lists”) to submit an annual report of its compliance with the LPPM’s Responsible PGM Guidance (the “Guidance”) to the LPPM’s Responsible Sourcing Review Committee (the “RSRC”), which is responsible for the implementation of the Programme and the Guidance. The RSRC also issues industry guidelines for the conduct of annual assurances by Third-Party Assurance Providers, based on the framework of the Guidance. These guidelines are called the “Third-Party Audit Guidance”.
The LPPM continues to believe that it is in the best interest of the Platinum Group Metal (“PGM”) refining industry that the LPPM constructs a Responsible Sourcing Programme for Supply Chain Risk Management that is tailored to the industry’s particular needs and inherent risks. In pursuit of that aim, the RSRC has reviewed its Guidance and has issued a new version, Version 5. This version is the first to include coverage of Rhodium Sponge.
The RSRC continues to welcome dialogue with members of the industry and to find value in exchanges of ideas with Responsible Sourcing practitioners from other industry segments.
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