Recently, Luxshare officially joined the Responsible Minerals Initiative (RMI) as a member. RMI is one of the most trusted and widely used organizations across industries to address responsible mineral procurement issues in the supply chain. The tools and resources provided by RMI, including the Responsible Minerals Assurance Process (RMAP) and the Reasonable Country of Origin Inquiry (RCOI) database, assist companies in identifying and addressing mineral supply chain risks, tracing the origin of minerals, and making responsible procurement decisions. This contributes to making mineral supply chains actively contribute to socio-economic development.
For many years, Luxshare has consistently engaged in responsible mineral procurement. We refer to the Organization for Economic Co-operation and Development (OECD) five-step process and have developed a framework for due diligence on conflict minerals in the mineral value chain. We have planned and implemented specific processes for the establishment of conflict mineral management systems and due diligence, ensuring that the necessary minerals used in our products are 'conflict-free.
By joining the RMI initiative, Luxshare will have the opportunity to engage in in-depth discussions with other members and industry experts, learning more about improving conflict mineral management. We aim to gain insights from global research institutions, think tanks, and other experts on the latest developments in conflict minerals issues. This will further strengthen our commitment to ethically sourcing minerals such as gold, tin, tantalum, tungsten, particularly those extracted from conflict regions, while also closely monitoring the sustainable extraction of cobalt. We are eager to enhance communication and share forward-looking information on conflict minerals with our supplier partners. Through this collaboration, we aim to collectively improve responsible mineral procurement practices and work together to build a conflict-free supply chain.