Newsletter: LPPM Responsible Platinum and Palladium Sourcing

As you may already be aware, we have successfully completed the first full year of LPPM Responsible Sourcing Audits.

We would like to express to all the refiners on our Good Delivery List our sincere thanks for their cooperation during this first and very challenging year. Similarly, we thank all the Approved Service Providers for their help and efforts during 2020.

The Responsible Sourcing Review Committee has monitored and reviewed all the first-year audits and decided that now is a good time to assess the LPPM Guidances against our experience. We have examined their relevance to the Platinum Group Metal Industry and made minor alterations to suit the characteristics of the industry. We have also corrected any ambiguities or language where required.

The main difference is in the most important area of supply chain due diligence. Following OECD recommendations and assurance auditing trends. We want to emphasise to LPPM Good Delivery Refiners and Approved Service Providers that due diligence is required not just with the first counterparty in the supply chain but, as far as possible, in the chain as a whole. This includes counterparties where the refiner is in a joint venture.

The new Guidances will appear on the LPPM website very shortly and are valid from March 2021.

LPPM Responsible Sourcing Review Committee

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LPPM does not guarantee that the Fixing Prices, Fixing Data or other materials displayed or otherwise available on this website are accurate, complete or up to date. LPPM obtains all the information displayed or available on this website from a third party, The London Platinum and Palladium Fixing Company Limited. All warranties and representations (other than fraudulent misrepresentation) are excluded to the maximum extent permitted by law in particular no express or implied warranty is given as to the figure at which the Fixing Prices stand at any particular time on any particular day or otherwise. If you rely on the information available on this website you do so at your own risk and LPPM shall have no liability for any losses suffered by you as a result of relying this information.

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