Valcambi’s Due Diligence process enhancement

Author: Valcambi (Switzerland), Published on: 12 October 2015

Valcambi’s aim is to have a robust, effective and transparent Due Diligence process (KYC and KYP). Our supply chain Due Diligence process must deliver both the information and assurances our customers and regulators require, as well as offer responsible and pragmatic business opportunities to our suppliers, including smaller and marginal entities in our supply chains. Valcambi endeavors to continuously improve our supply chain sourcing practices in line with the diverse and dynamic set of expectations and requirements that our global stakeholders put to us. Several months prior to the release of the Berne Declaration’s recent report, Valcambi had begun a scoping exercise on how artisanal sources of gold might be better included in its supply chains in line with the company’s compliance commitments. Valcambi is taking the contents of the Berne Declaration’s report extremely seriously and has subsequently and temporarily stopped imports from Burkina Faso pending further research and analysis. Valcambi has engaged a highly experienced and renowned responsible sourcing specialist firm to assist us with these relationships and to review our minerals procurement strategy, including advising on our client onboarding and KYC and KYP criteria and systems. It is Valcambi’s intention to engage all parties, i.e. customers, civil society and government with this work over the coming months.”

 

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This is a response from the following companies: Valcambi