Document


____________________________________________________________________________________________________________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
________________
FORM SD
Specialized Disclosure Report
 
 
_______________
Powell Industries, Inc.
(Exact name of registrant as specified in its charter)
 
 
_______________
 
 
 
 
 
 
Delaware
 
001-12488
 
88-0106100
(State or other jurisdiction of
incorporation or organization)
 
(Commission File No.)
 
(I.R.S. Employer
Identification No.)
 
 
 
8550 Mosley Road
Houston, Texas
 
 
 
77075-1180
(Address of principal executive offices)
 
 
 
(Zip Code)
Don R. Madison, 713-944-6900
(Name and telephone number, including area code, of the person to contact in connection with this report.)
 
 

Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:
 
x
Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2016.
 
 
____________________________________________________________________________________________________________ 




__________________________________________________________________________________________
Item 1.01 Conflict Minerals Disclosure and Report
Conflict Minerals Disclosure
Powell Industries, Inc. (the Company) undertook a reasonable country of origin inquiry with respect to the conflict minerals used in the production of the Company’s custom engineered-to-order electrical equipment and has determined in good faith that for the year ended December 31, 2016:
a)
The Company has manufactured or contracted to manufacture products as to which certain conflict minerals, gold, tin, tungsten and tantalum (collectively, 3TG) are necessary to the functionality or production of such products.
b)
Based on a reasonable country of origin inquiry, the Company believes, or has reason to believe, that a portion of its products that contain the necessary 3TG originated, or may have originated, in the Democratic Republic of the Congo or an adjoining country and knows, or has reason to believe, that those necessary 3TG products may not be from recycle or scrap sources.
A copy of the Company’s Conflict Minerals Report is filed as Exhibit 1.01 hereto and is publicly available at the Company’s website at www.powellind.com, under the section entitled “Investors.”
Item 1.02 Exhibit
See Item 2.01 of this Specialized Disclosure Report on Form SD.
Item 2.01 Exhibits
 
 
 
 
Exhibit No.
 
Description
Exhibit 1.01
 
Conflict Minerals Report for the calendar year ended December 31, 2016
 





____________________________________________________________________________________________________________
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the duly authorized undersigned.
 
 
 
 
 
 
 
 
POWELL INDUSTRIES, INC.
 
 
 
Date: May 30, 2017
 
By:
 
/s/ DON R. MADISON
 
 
 
 
Don R. Madison
Executive Vice President
 
 
 
 
Chief Financial and Administrative Officer
(Principal Financial Officer)


Document

Exhibit 1.01
Conflict Minerals Report
For the Year Ended December 31, 2016
This is the Conflict Minerals Report (this Report) of Powell Industries, Inc. (referred to herein as, Powell, the Company, we, us or our) for calendar year 2016 in accordance with Rule 13p-1 under the Securities Exchange Act of 1934, as amended (the Exchange Act). Please refer to Section 13(p) of the Exchange Act and the general instructions to the Specialized Disclosure Report on Form SD for definitions of certain terms used in this Report, unless otherwise defined herein.
This Report for the year ended December 31, 2016 is presented to comply with Rule 13p-1 under the Exchange Act (the Rule). The Rule was adopted by the Securities and Exchange Commission (SEC) to implement reporting and disclosure requirements related to conflict minerals as directed by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the Dodd-Frank Act). The Rule imposes certain reporting obligations on SEC registrants whose manufactured products contain conflict minerals which are necessary to the functionality or production of their products. Conflict Minerals are defined as cassiterite, columbite-tantalite, gold, wolframite, and their derivatives, which are limited to tin, tantalum, tungsten, and gold. For the purposes of this Report, tin, tantalum, tungsten and gold shall be collectively referred to as the 3TGs. These requirements apply to registrants whatever the geographic origin of the conflict minerals and whether or not they fund armed conflict.
Company Overview
We develop design, manufacture and service custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy. Certain conflict minerals (as defined in Item 1.01(d)(3) of Form SD), specifically gold, tin, tungsten and tantalum are used in the production of our custom-engineered equipment. Accordingly, pursuant to the Rule, we conducted a reasonable country of origin inquiry (RCOI) regarding such conflict minerals designed to determine whether any of such conflict minerals originated in the Democratic Republic of the Congo (DRC) or an adjoining country (collectively, Covered Countries), or are from recycled or scrap sources.
Product Description

Our broad and complex product range may contain conflict minerals within the following components:

    
Tantalum, used in capacitors,
    
Tin, used in soldered components,
    
Tungsten, used in coatings, alloys, heating elements and electrodes,
    
Gold, used in circuit boards, electrodes and electronic components.
Description of RCOI
In conducting the RCOI, Powell engaged Assent Compliance (Assent) to assist with the effectiveness of our conflict minerals program. We identified the scope of our inquiry by first completing a supplier list extraction from our preferred vendor list. This list was then filtered to remove service providers, indirect materials suppliers and inactive suppliers (minimum of one year since last purchase). This was intended to ensure that all suppliers surveyed provided items to Powell that were used in final products in the year 2016. Once the filtering was completed, we populated the list with contact information. This list, composed of 912 suppliers, was then provided to Assent for upload to their Assent Compliance Manager software system (the Assent Compliance Manager).
Assent conducted the supplier survey portion of the RCOI. The supplier survey utilized a template developed by the Conflict-Free Sourcing Initiative (CFSI), and initiative by the Electronic Industry Citizenship Coalition® and The Global e-Sustainability Initiative (EICC/GeSI), called the Conflict Mineral Report Template (CMRT). The CMRT was developed to facilitate general disclosures and information regarding smelters that provide materials to the supplier. It includes questions regarding the supplier’s conflict-free minerals policy, the engagement process with its direct suppliers and identification of the smelters used by the supplier.
Non-responsive suppliers were contacted a minimum of three times by the Assent Compliance Manager and then were also managed by the Assent Compliance Supply Chain team in one-on-one communications. This included two to three follow ups from the supply chain team. After three months of non-responsiveness, suppliers were then contacted via email with Powell procurement team members copied, as an escalation to encourage their response to Assent.
Assent communications included training and education on the completion of the CMRT form as well as access to a Assent’s learning management system, Assent University. All in-scope suppliers were provided access to [a Conflict Minerals Training course as part of Assent University and this training was monitored and tracked in Assent's system for future reporting and transparency.



Due Diligence Process
Powell’s due diligence measures have been designed to conform, in all material respects, with the framework in the Organization for Economic Co-operation and Development (OECD) Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas and the related supplements for 3TG (collectively, the OECD Guidance), which generally consists of the following five steps: (i) Establish strong company management systems; (ii) Identify and assess risks in the supply chain; (iii) Design and implement a strategy to respond to identified risks; (iv) Carry out independent third-party audit of smelter/refiner's due diligence practices; and (v) Report annually on supply chain due diligence. In 2016, the due diligence process was aimed to help Powell assess and respond to risk in its supply chain by investigating the source of its products down the chain to the smelters and refiners and the strength of its suppliers’ conflict minerals programs. The following is a brief summary of certain aspects of our due diligence process.
A.
Step 1: Establish Strong Powell Management Systems
In accordance with our due diligence framework and compliance efforts:
 
 
We have communicated to all of our in-scope suppliers our efforts to comply with Section 1502 of the Dodd-Frank Act pursuant to a compliance statement and other communications (together, the Compliance Statement). We requested that our in-scope suppliers provide a comprehensive conflict minerals declaration for all conflict minerals in the form of the CMRT v.4.10 or higher. We provide our Compliance Statement to all new suppliers and plan to provide annual related compliance statement communications to our entire supply base.
 
 
We implemented internal compliance efforts, including internal reporting requirements, to support our supply chain due diligence process.
 
 
We implemented a risk mitigation response plan to address business relationships with suppliers that are DRC conflict undeterminable (as defined in Item 1.01(d)(5) of Form SD). Our program includes continuous monitoring to adjust our strategies as sourcing data improves and new information is received.
Powell has adopted a company policy with respect to conflict minerals which is posted on our website at www.powellind.com. Select the section entitled “Our Company”, then “Supply Chain.”
Internal Team
Powell has established a management system for conflict minerals. Our management system is sponsored by the Chief Financial Officer as well as executive-level representatives and a team of subject matter experts from relevant functions, such as our Supply Chain Director, Corporate Controller, Vice President of Research and Product Development, and Supply Base Manager.
The team of subject matter experts is responsible for implementing our conflict minerals compliance strategy and senior management is briefed about the results of our due diligence efforts.
Control Systems
Controls include, but are not limited to, our code of conduct which outlines expected behaviors for all Powell employees and a conflict minerals policy which can be found on our website at www.powellind.com. Select the section entitled “Our Company”, then “Supply Chain.”
We rely on our direct suppliers to provide information on the origin of the 3TG contained in components and materials supplied to us – including sources of 3TG that are supplied to them from lower tier suppliers. Contracts with our suppliers are frequently in force for three to five years or more and we cannot unilaterally impose new contract terms and flow-down requirements. As we enter into new contracts, or our contracts renew, we are adding a clause to require suppliers to provide information about the source of 3TG and smelters. It will take a number of years to ensure that all our supplier contracts contain appropriate flow-down clauses. In the meantime, as described below, we are working with selected suppliers to ensure they provide the 3TG sourcing information until the contracts can be amended.
Supplier Engagement
With respect to the OECD requirement to strengthen engagement with suppliers, we have, through Assent, provided education on the conflict minerals regulation. We have leveraged the existing communications within the Company, specifically the procurement department, to encourage supplier interactions with Assent as well as to help suppliers understand the requirement for completion of their CMRTs. Feedback from this engagement has allowed us to enhance the training and focus and adapt it to each user’s needs. It has also allowed for our supplier communications to be more focused and to clarify expectations.




Grievance Mechanisms
We have multiple longstanding grievance mechanisms whereby employees and suppliers can report violations of Powell’s policies. Our emergency number can be found at www.powellind.com under the section entitled “Contact Us.”
Maintain Records
We have also adopted a policy to retain relevant documentation. Such documentation will be retained for minimum of five years.
B.
Step 2: Identify and Assess Risks in Our Supply Chain
We identified direct material suppliers to capture possible 3TG risk suppliers. As we progress, we expect that transparency in our supply chain will increase to allow for better risk assessment at more detailed levels of our supply chain. We intend to continue communicating with our suppliers regarding conflict minerals.
Based on assessed risks, our RCOI covered applicable suppliers.

Each facility that meets the CFSI definition of a smelter or refiner of a 3TG mineral is assigned a risk of High, Medium or Low based on 3 scoring criteria:
Geographic proximity to the DRC and Covered Countries;
Conflict-Free Smelter Program (CFSP) audit status;
Known or plausible evidence of unethical or conflict sourcing.

When a facility is reported on a CMRT by one of the suppliers surveyed, risk mitigation activities are initiated. Through our third-party vendor, Assent, submissions that include any reported facilities produce a receipt instructing the supplier to take their own risk mitigation actions, including submission of a product specific CMRT to better identify the connection to products that they supply to Powell. As per the OECD Guidance, risk mitigation will depend on the supplier’s specific context. In addition, suppliers are guided to the Assent University learning platform to engage in educational materials on mitigating the risk of smelters or refiners on the supply chain.
C.
Step 3: Design and Implement a Strategy to Respond to Identified Risks
We believe that our RCOI was reasonably designed and executed in good faith to determine the existence and source of the 3TGs in our supply chain, including from recycled or scrap sources (as defined in Item 1.01(d)(6) of Form SD). We utilized the CMRT template v4.10 or higher for our RCOI. We conducted our effort to send surveys in good faith, utilizing up to three rounds of communications with our suppliers. We evaluated survey responses to identify: (i) the use and source of the 3TGs; and (ii) any warning signs indicating that conflict minerals may have come from one of the Covered Countries. We intend to make additional inquiries on a case-by-case basis during 2017 to clarify or obtain more information as necessary. We tracked results of our supply chain diligence process and periodically reported the results to our executive leadership team.

Because of Powell’s size, the complexity of its products, and the depth, breadth, and constant evolution of its supply chain, it is difficult to identify parties upstream from its direct suppliers. Powell continues to work with suppliers to identify the upstream sources of the 3TGs through the CMRTs, follow up on invalid responses on the CMRTs, use risk-based assessments of identified smelters and assess the conflict minerals programs of its suppliers, as described below in this Report. Information and findings from this process are stored in the Assent Compliance Manager, a database that can be tracked and audited.

Certain of the responses to the surveys included the names of facilities listed by the suppliers as smelters or refiners. We do not typically have a direct relationship with 3TG smelters and refiners and do not perform or direct audits of these entities within our supply chain. We and our consultant compared these facilities listed in the responses to the list of smelters maintained by the CFSI and, if a supplier indicated that the facility was certified as “Conflict-Free,” we confirmed that the name was listed by CFSI.
In accordance with OECD Guidance, it is important to understand risk levels associated with conflict minerals in the supply chain. Smelters not being certified DRC-Conflict Free pose a significant risk to the supply chain. In the Assent Compliance Manager, risk is classified as High, Medium and Low based on the three scoring criteria outlined under "Step 2: Identify and Assess Risks in Our Supply Chain."
   
Powell does not have a direct relationship with conflict minerals smelters and refiners and, as a result, does not perform or direct audits of these entities within its supply chain. Powell captured smelter and refiner information as part of the CMRT, as some suppliers provided



the names of facilities it used as smelters or refiners. Assent compared the facilities identified by the suppliers to the list of smelters maintained by the CFSI.
Additionally, suppliers are evaluated on program strength (further assisting in identifying risk in the supply chain). At this stage in conflict minerals compliance it is well-known that many companies are in the middle of the process and do not have many answers beyond “unknown”. The criteria used to evaluate the strength of the program are:
A. Do you have a policy in place that includes DRC conflict-free sourcing?
E. Have you implemented due diligence measures for conflict-free sourcing?
H. Do you verify due diligence information received from your suppliers?
I. Does your verification process include corrective action management?
When suppliers meet or exceed those criteria (Yes to at least A, E, H, I) they are deemed to have a strong program. When suppliers do not meet those criteria, they are deemed to have a weak program.
We believe that the inquiries and investigations described above represent a reasonable effort to determine the mines or locations of origin of the 3TGs in our applicable products, including (1) seeking information about 3TG smelters and refiners in our supply chain by requesting that our suppliers complete the CMRT, (2) verifying those smelters and refiners with the expanding CFSI lists, (3) conducting the due diligence review and (4) obtaining additional documentation and verification, as applicable. As mentioned above, our existing policy related to relevant documentation of our conflict mineral compliance process requires that documentation will be retained for a period of at least five years.
D.
Step 4: Implement Targeted Independent Third-Party Due Diligence
We engaged Assent to assist in the RCOI, data collection and survey process. Assent supports industry associations that administer independent third-party smelter and refinery audit programs and encourages targeted suppliers and/or facilities to participate in comparable due diligence validation activities.
E.
Step 5: Report on Supply Chain Due Diligence

We have responded to various customer requests for information regarding our conflict minerals determination.
Powell reports annually on supply chain due diligence by filing a Form SD and a Conflict Minerals Report with the SEC. We also disclose our company policy with respect to conflict minerals on our website at www.powellind.com. Select the section entitled “Our Company”, then “Supply Chain.”
Due Diligence Results
For the 2016 reporting year, Powell received CMRT forms from 72% of the suppliers surveyed. All submitted forms are accepted and classified as valid or invalid in order to retain all data. Suppliers were contacted if they submitted invalid forms and were encouraged to resubmit a valid form. As of April 28, 2017, there were 43 invalid supplier submissions.

While due diligence is ongoing and the information received continues to improve in quantity and quality, the majority of the responses received provided data at a company or divisional level or did not specify the smelters or refiners used for materials specifically supplied to us. We have decided to disclose validated smelters provided to us by our supply chain. However, we cannot definitively determine whether any of the 3TGs reported by the suppliers were contained in materials supplied to us or to validate that any of these smelters or refiners are actually in our supply chain. As a result, we are unable to identify all smelters and refiners as well as all the countries of origin of the 3TGs that are contained in the applicable products

As of April 28 2016, Powell validated 317 smelters or refiners identified within its supply chain. If a supplier indicated that the facility was certified as “conflict-free,” such status was confirmed by Assent if the facility was listed by the CFSI as certified.

Many suppliers within Powell’s supply chain are still unable to provide the smelters or refiners used for products supplied. Furthermore, many of the suppliers provided responses at the company or division level and indicated an “unknown” status in terms of determining the origin of the 3TGs. The CMRTs submitted by suppliers that do not list at least one smelter for each 3TG claimed on the CMRT are



considered invalid and Assent follows up on these, urging suppliers to resubmit with increased smelter information. There are still suppliers unable to provide the smelters or refiners used for materials supplied to us.

In cases where any high-risk smelters were reported on a CMRT by a supplier, risk mitigation activities were initiated. Through Assent, the suppliers were asked to submit a product-level CMRT to better identify the connection between the smelters or refiners they listed and the products they provide to us. Suppliers were also guided to Assent University where they were provided with educational materials on mitigating the risk of smelters or refiners in the supply chain.

Appendix I lists the smelters and refiners that the suppliers we surveyed reported as being in their supply chains. We have not listed in Appendix I any smelters or refiners that we have not been able to validate. Appendix I also includes an aggregated list of the countries of origin from which the reported facilities collectively source conflict minerals, based on information provided by suppliers and CFSI. Powell supports the refinement and expansion of the list of participating smelters through our membership in the CFSI program.

The large majority of the responses received either provided data at a company or subsidiary level and chose not to provide information at the component level, or did not specify the smelters or refiners used for components supplied to Powell. Accordingly, we are unable to determine, in those cases, whether any of the 3TGs reported by the suppliers were contained in components or parts supplied to us, or to validate that any of the smelters or refiners identified are actually in our supply chain.
Steps to Improve Future Due Diligence and Supply Chain Risk Mitigation
Powell intends to take the following steps to improve the due diligence conducted to further mitigate any risk that the necessary conflict minerals in its products could benefit armed groups in the Covered Countries:
Include a conflict minerals flow-down clause in new or renewed supplier contracts.
Continue engagement with suppliers and direct them to training resources to increase the response rate and improve the content of the supplier survey responses.
Engage any suppliers found to be supplying Powell with conflict minerals to establish an alternative source of conflict minerals that does not support the conflict in the Covered Countries.
Define and improve best practices and build leverage over its supply chain in accordance with the OECD Guidance.
Based on its due diligence process as of the date of this Report, Powell has found no instances where it was necessary to terminate a supplier contract or to find a replacement supply of any conflict minerals.



Appendix I
Metal
Standard Smelter Name
Smelter Facility Location
Smelter ID
Conflict Free?
Gold
Abington Reldan Metals, LLC
UNITED STATES
CID002708
Unknown
Gold
Advanced Chemical Company
UNITED STATES
CID000015
Yes
Gold
Aida Chemical Industries Co., Ltd.
JAPAN
CID000019
Yes
Gold
Al Etihad Gold Refinery DMCC
UNITED ARAB EMIRATES
CID002560
Yes
Gold
Allgemeine Gold-und Silberscheideanstalt A.G.
GERMANY
CID000035
Yes
Gold
Almalyk Mining and Metallurgical Complex (AMMC)
UZBEKISTAN
CID000041
Yes
Gold
AngloGold Ashanti Córrego do Sítio Mineração
BRAZIL
CID000058
Yes
Gold
Argor-Heraeus S.A.
SWITZERLAND
CID000077
Yes
Gold
Asahi Pretec Corp.
JAPAN
CID000082
Yes
Gold
Asahi Refining Canada Ltd.
CANADA
CID000924
Yes
Gold
Asahi Refining USA Inc.
UNITED STATES
CID000920
Yes
Gold
Asaka Riken Co., Ltd.
JAPAN
CID000090
Yes
Gold
Atasay Kuyumculuk Sanayi Ve Ticaret A.S.
TURKEY
CID000103
Unknown
Gold
AU Traders and Refiners
SOUTH AFRICA
CID002850
Yes
Gold
AURA-II
UNITED STATES
CID002851
Unknown
Gold
Aurubis AG
GERMANY
CID000113
Yes
Gold
Bangalore Refinery
INDIA
CID002863
Unknown
Gold
Bangko Sentral ng Pilipinas (Central Bank of the Philippines)
PHILIPPINES
CID000128
Yes
Gold
Boliden AB
SWEDEN
CID000157
Yes
Gold
C. Hafner GmbH + Co. KG
GERMANY
CID000176
Yes
Gold
Caridad
MEXICO
CID000180
Unknown
Gold
CCR Refinery - Glencore Canada Corporation
CANADA
CID000185
Yes
Gold
Cendres + Métaux S.A.
SWITZERLAND
CID000189
Unknown
Gold
Chimet S.p.A.
ITALY
CID000233
Yes
Gold
Chugai Mining
JAPAN
CID000264
Unknown
Gold
Daejin Indus Co., Ltd.
KOREA, REPUBLIC OF
CID000328
Yes
Gold
Daye Non-Ferrous Metals Mining Ltd.
CHINA
CID000343
Yes
Gold
Degussa Sonne / Mond Goldhandel GmbH
GERMANY
CID002867
Unknown
Gold
DODUCO GmbH
GERMANY
CID000362
Yes
Gold
Dowa
JAPAN
CID000401
Yes
Gold
DSC (Do Sung Corporation)
KOREA, REPUBLIC OF
CID000359
Yes
Gold
Eco-System Recycling Co., Ltd.
JAPAN
CID000425
Yes
Gold
Elemetal Refining, LLC
UNITED STATES
CID001322
Yes
Gold
Emirates Gold DMCC
UNITED ARAB EMIRATES
CID002561
Yes
Gold
Fidelity Printers and Refiners Ltd.
ZIMBABWE
CID002515
Unknown
Gold
Gansu Seemine Material Hi-Tech Co., Ltd.
CHINA
CID000522
Unknown
Gold
Geib Refining Corporation
UNITED STATES
CID002459
Unknown
Gold
Great Wall Precious Metals Co., Ltd. of CBPM
CHINA
CID001909
Unknown
Gold
Guangdong Jinding Gold Limited
CHINA
CID002312
Unknown
Gold
Gujarat Gold Centre
INDIA
CID002852
Unknown
Gold
Guoda Safina High-Tech Environmental Refinery Co., Ltd.
CHINA
CID000651
Unknown
Gold
Hangzhou Fuchunjiang Smelting Co., Ltd.
CHINA
CID000671
Unknown



Gold
Heimerle + Meule GmbH
GERMANY
CID000694
Yes
Gold
Heraeus Ltd. Hong Kong
CHINA
CID000707
Yes
Gold
Heraeus Precious Metals GmbH & Co. KG
GERMANY
CID000711
Yes
Gold
Hunan Chenzhou Mining Co., Ltd.
CHINA
CID000767
Unknown
Gold
Hwasung CJ Co., Ltd.
KOREA, REPUBLIC OF
CID000778
Unknown
Gold
Inner Mongolia Qiankun Gold and Silver Refinery Share Co., Ltd.
CHINA
CID000801
Yes
Gold
Ishifuku Metal Industry Co., Ltd.
JAPAN
CID000807
Yes
Gold
Istanbul Gold Refinery
TURKEY
CID000814
Yes
Gold
Japan Mint
JAPAN
CID000823
Yes
Gold
Jiangxi Copper Co., Ltd.
CHINA
CID000855
Yes
Gold
JSC Ekaterinburg Non-Ferrous Metal Processing Plant
RUSSIAN FEDERATION
CID000927
Yes
Gold
JSC Uralelectromed
RUSSIAN FEDERATION
CID000929
Yes
Gold
JX Nippon Mining & Metals Co., Ltd.
JAPAN
CID000937
Yes
Gold
Kaloti Precious Metals
UNITED ARAB EMIRATES
CID002563
Unknown
Gold
Kazakhmys Smelting LLC
KAZAKHSTAN
CID000956
Unknown
Gold
Kazzinc
KAZAKHSTAN
CID000957
Yes
Gold
Kennecott Utah Copper LLC
UNITED STATES
CID000969
Yes
Gold
KGHM Polska Miedź Spółka Akcyjna
POLAND
CID002511
Unknown
Gold
Kojima Chemicals Co., Ltd.
JAPAN
CID000981
Yes
Gold
Korea Zinc Co., Ltd.
KOREA, REPUBLIC OF
CID002605
Yes
Gold
Kyrgyzaltyn JSC
KYRGYZSTAN
CID001029
Yes
Gold
L'azurde Company For Jewelry
SAUDI ARABIA
CID001032
Unknown
Gold
Lingbao Gold Co., Ltd.
CHINA
CID001056
Unknown
Gold
Lingbao Jinyuan Tonghui Refinery Co., Ltd.
CHINA
CID001058
Unknown
Gold
L'Orfebre S.A.
ANDORRA
CID002762
Unknown
Gold
LS-NIKKO Copper Inc.
KOREA, REPUBLIC OF
CID001078
Yes
Gold
Luoyang Zijin Yinhui Gold Refinery Co., Ltd.
CHINA
CID001093
Unknown
Gold
Materion
UNITED STATES
CID001113
Yes
Gold
Matsuda Sangyo Co., Ltd.
JAPAN
CID001119
Yes
Gold
Metalor Technologies (Hong Kong) Ltd.
CHINA
CID001149
Yes
Gold
Metalor Technologies (Singapore) Pte., Ltd.
SINGAPORE
CID001152
Yes
Gold
Metalor Technologies (Suzhou) Ltd.
CHINA
CID001147
Yes
Gold
Metalor Technologies S.A.
SWITZERLAND
CID001153
Yes
Gold
Metalor USA Refining Corporation
UNITED STATES
CID001157
Yes
Gold
Metalúrgica Met-Mex Peñoles S.A. De C.V.
MEXICO
CID001161
Yes
Gold
Mitsubishi Materials Corporation
JAPAN
CID001188
Yes
Gold
Mitsui Mining and Smelting Co., Ltd.
JAPAN
CID001193
Yes
Gold
MMTC-PAMP India Pvt., Ltd.
INDIA
CID002509
Yes
Gold
Modeltech Sdn Bhd
MALAYSIA
CID002857
Unknown
Gold
Morris and Watson
NEW ZEALAND
CID002282
Unknown
Gold
Morris and Watson Gold Coast
AUSTRALIA
CID002866
Unknown
Gold
Moscow Special Alloys Processing Plant
RUSSIAN FEDERATION
CID001204
Yes
Gold
Nadir Metal Rafineri San. Ve Tic. A.Ş.
TURKEY
CID001220
Yes
Gold
Navoi Mining and Metallurgical Combinat
UZBEKISTAN
CID001236
Unknown
Gold
Nihon Material Co., Ltd.
JAPAN
CID001259
Yes



Gold
Ögussa Österreichische Gold- und Silber-Scheideanstalt GmbH
AUSTRIA
CID002779
Yes
Gold
Ohura Precious Metal Industry Co., Ltd.
JAPAN
CID001325
Yes
Gold
OJSC "The Gulidov Krasnoyarsk Non-Ferrous Metals Plant" (OJSC Krastsvetmet)
RUSSIAN FEDERATION
CID001326
Yes
Gold
OJSC Novosibirsk Refinery
RUSSIAN FEDERATION
CID000493
Yes
Gold
PAMP S.A.
SWITZERLAND
CID001352
Yes
Gold
Pease & Curren
UNITED STATES
CID002872
Unknown
Gold
Penglai Penggang Gold Industry Co., Ltd.
CHINA
CID001362
Unknown
Gold
Prioksky Plant of Non-Ferrous Metals
RUSSIAN FEDERATION
CID001386
Yes
Gold
PT Aneka Tambang (Persero) Tbk
INDONESIA
CID001397
Yes
Gold
PX Précinox S.A.
SWITZERLAND
CID001498
Yes
Gold
Rand Refinery (Pty) Ltd.
SOUTH AFRICA
CID001512
Yes
Gold
Remondis Argentia B.V.
NETHERLANDS
CID002582
Unknown
Gold
Republic Metals Corporation
UNITED STATES
CID002510
Yes
Gold
Royal Canadian Mint
CANADA
CID001534
Yes
Gold
SAAMP
FRANCE
CID002761
Unknown
Gold
Sabin Metal Corp.
UNITED STATES
CID001546
Unknown
Gold
SAFINA A.S.
CZECH REPUBLIC
CID002290
Unknown
Gold
Sai Refinery
INDIA
CID002853
Unknown
Gold
Samduck Precious Metals
KOREA, REPUBLIC OF
CID001555
Yes
Gold
SAMWON Metals Corp.
KOREA, REPUBLIC OF
CID001562
Unknown
Gold
SAXONIA Edelmetalle GmbH
GERMANY
CID002777
Yes
Gold
Schone Edelmetaal B.V.
NETHERLANDS
CID001573
Yes
Gold
SEMPSA Joyería Platería S.A.
SPAIN
CID001585
Yes
Gold
Shandong Tiancheng Biological Gold Industrial Co., Ltd.
CHINA
CID001619
Unknown
Gold
Shandong Zhaojin Gold & Silver Refinery Co., Ltd.
CHINA
CID001622
Yes
Gold
Sichuan Tianze Precious Metals Co., Ltd.
CHINA
CID001736
Yes
Gold
Singway Technology Co., Ltd.
TAIWAN
CID002516
Yes
Gold
So Accurate Group, Inc.
UNITED STATES
CID001754
Unknown
Gold
SOE Shyolkovsky Factory of Secondary Precious Metals
RUSSIAN FEDERATION
CID001756
Yes
Gold
Solar Applied Materials Technology Corp.
TAIWAN
CID001761
Yes
Gold
Sudan Gold Refinery
SUDAN
CID002567
Unknown
Gold
Sumitomo Metal Mining Co., Ltd.
JAPAN
CID001798
Yes
Gold
SungEel HiTech
KOREA, REPUBLIC OF
CID002918
Unknown
Gold
T.C.A S.p.A
ITALY
CID002580
Yes
Gold
Tanaka Kikinzoku Kogyo K.K.
JAPAN
CID001875
Yes
Gold
The Refinery of Shandong Gold Mining Co., Ltd.
CHINA
CID001916
Yes
Gold
Tokuriki Honten Co., Ltd.
JAPAN
CID001938
Yes
Gold
Tongling Nonferrous Metals Group Co., Ltd.
CHINA
CID001947
Unknown
Gold
Tony Goetz NV
BELGIUM
CID002587
Unknown
Gold
TOO Tau-Ken-Altyn
KAZAKHSTAN
CID002615
Unknown
Gold
Torecom
KOREA, REPUBLIC OF
CID001955
Yes
Gold
Umicore Brasil Ltda.
BRAZIL
CID001977
Yes
Gold
Umicore Precious Metals Thailand
THAILAND
CID002314
Yes



Gold
Umicore S.A. Business Unit Precious Metals Refining
BELGIUM
CID001980
Yes
Gold
United Precious Metal Refining, Inc.
UNITED STATES
CID001993
Yes
Gold
Universal Precious Metals Refining Zambia
ZAMBIA
CID002854
Unknown
Gold
Valcambi S.A.
SWITZERLAND
CID002003
Yes
Gold
Western Australian Mint trading as The Perth Mint
AUSTRALIA
CID002030
Yes
Gold
WIELAND Edelmetalle GmbH
GERMANY
CID002778
Yes
Gold
Yamamoto Precious Metal Co., Ltd.
JAPAN
CID002100
Yes
Gold
Yokohama Metal Co., Ltd.
JAPAN
CID002129
Yes
Gold
Yunnan Copper Industry Co., Ltd.
CHINA
CID000197
Unknown
Gold
Zhongyuan Gold Smelter of Zhongjin Gold Corporation
CHINA
CID002224
Yes
Gold
Zijin Mining Group Co., Ltd. Gold Refinery
CHINA
CID002243
Yes
Tantalum
Changsha South Tantalum Niobium Co., Ltd.
CHINA
CID000211
Yes
Tantalum
Conghua Tantalum and Niobium Smeltry
CHINA
CID000291
Yes
Tantalum
D Block Metals, LLC
UNITED STATES
CID002504
Yes
Tantalum
Duoluoshan
CHINA
CID000410
Yes
Tantalum
Exotech Inc.
UNITED STATES
CID000456
Yes
Tantalum
F&X Electro-Materials Ltd.
CHINA
CID000460
Yes
Tantalum
FIR Metals & Resource Ltd.
CHINA
CID002505
Yes
Tantalum
Global Advanced Metals Aizu
JAPAN
CID002558
Yes
Tantalum
Global Advanced Metals Boyertown
UNITED STATES
CID002557
Yes
Tantalum
Guangdong Zhiyuan New Material Co., Ltd.
CHINA
CID000616
Yes
Tantalum
H.C. Starck Co., Ltd.
THAILAND
CID002544
Yes
Tantalum
H.C. Starck GmbH Goslar
GERMANY
CID002545
Yes
Tantalum
H.C. Starck GmbH Laufenburg
GERMANY
CID002546
Yes
Tantalum
H.C. Starck Hermsdorf GmbH
GERMANY
CID002547
Yes
Tantalum
H.C. Starck Inc.
UNITED STATES
CID002548
Yes
Tantalum
H.C. Starck Ltd.
JAPAN
CID002549
Yes
Tantalum
H.C. Starck Smelting GmbH & Co. KG
GERMANY
CID002550
Yes
Tantalum
Hengyang King Xing Lifeng New Materials Co., Ltd.
CHINA
CID002492
Yes
Tantalum
Hi-Temp Specialty Metals, Inc.
UNITED STATES
CID000731
Yes
Tantalum
Jiangxi Dinghai Tantalum & Niobium Co., Ltd.
CHINA
CID002512
Yes
Tantalum
Jiangxi Tuohong New Raw Material
CHINA
CID002842
Yes
Tantalum
JiuJiang JinXin Nonferrous Metals Co., Ltd.
CHINA
CID000914
Yes
Tantalum
Jiujiang Tanbre Co., Ltd.
CHINA
CID000917
Yes
Tantalum
Jiujiang Zhongao Tantalum & Niobium Co., Ltd.
CHINA
CID002506
Yes
Tantalum
KEMET Blue Metals
MEXICO
CID002539
Yes
Tantalum
KEMET Blue Powder
UNITED STATES
CID002568
Yes
Tantalum
King-Tan Tantalum Industry Ltd.
CHINA
CID000973
Yes
Tantalum
LSM Brasil S.A.
BRAZIL
CID001076
Yes
Tantalum
Metallurgical Products India Pvt., Ltd.
INDIA
CID001163
Yes
Tantalum
Mineração Taboca S.A.
BRAZIL
CID001175
Yes
Tantalum
Mitsui Mining & Smelting
JAPAN
CID001192
Yes
Tantalum
Molycorp Silmet A.S.
ESTONIA
CID001200
Yes
Tantalum
Ningxia Orient Tantalum Industry Co., Ltd.
CHINA
CID001277
Yes



Tantalum
Plansee SE Liezen
AUSTRIA
CID002540
Yes
Tantalum
Plansee SE Reutte
AUSTRIA
CID002556
Yes
Tantalum
Power Resources Ltd.
MACEDONIA
CID002847
Yes
Tantalum
QuantumClean
UNITED STATES
CID001508
Yes
Tantalum
Resind Indústria e Comércio Ltda.
BRAZIL
CID002707
Yes
Tantalum
RFH Tantalum Smeltry Co., Ltd.
CHINA
CID001522
Yes
Tantalum
Solikamsk Magnesium Works OAO
RUSSIAN FEDERATION
CID001769
Yes
Tantalum
Taki Chemicals
JAPAN
CID001869
Yes
Tantalum
Telex Metals
UNITED STATES
CID001891
Yes
Tantalum
Tranzact, Inc.
UNITED STATES
CID002571
Yes
Tantalum
Ulba Metallurgical Plant JSC
KAZAKHSTAN
CID001969
Yes
Tantalum
XinXing HaoRong Electronic Material Co., Ltd.
CHINA
CID002508
Yes
Tantalum
Yichun Jin Yang Rare Metal Co., Ltd.
CHINA
CID002307
Yes
Tantalum
Zhuzhou Cemented Carbide Group Co., Ltd.
CHINA
CID002232
Yes
Tin
Alpha
UNITED STATES
CID000292
Yes
Tin
An Thai Minerals Co., Ltd.
VIET NAM
CID002825
Unknown
Tin
An Vinh Joint Stock Mineral Processing Company
VIET NAM
CID002703
Unknown
Tin
Chenzhou Yunxiang Mining and Metallurgy Co., Ltd.
CHINA
CID000228
Yes
Tin
China Tin Group Co., Ltd.
CHINA
CID001070
Yes
Tin
CNMC (Guangxi) PGMA Co., Ltd.
CHINA
CID000278
Unknown
Tin
Cooperativa Metalurgica de Rondônia Ltda.
BRAZIL
CID000295
Yes
Tin
CV Ayi Jaya
INDONESIA
CID002570
Yes
Tin
CV Dua Sekawan
INDONESIA
CID002592
Yes
Tin
CV Gita Pesona
INDONESIA
CID000306
Yes
Tin
CV Serumpun Sebalai
INDONESIA
CID000313
Yes
Tin
CV Tiga Sekawan
INDONESIA
CID002593
Yes
Tin
CV United Smelting
INDONESIA
CID000315
Yes
Tin
CV Venus Inti Perkasa
INDONESIA
CID002455
Yes
Tin
Dowa
JAPAN
CID000402
Yes
Tin
Electro-Mechanical Facility of the Cao Bang Minerals & Metallurgy Joint Stock Company
VIET NAM
CID002572
Unknown
Tin
Elmet S.L.U.
SPAIN
CID002774
Yes
Tin
EM Vinto
BOLIVIA
CID000438
Yes
Tin
Estanho de Rondônia S.A.
BRAZIL
CID000448
Unknown
Tin
Fenix Metals
POLAND
CID000468
Yes
Tin
Gejiu Fengming Metallurgy Chemical Plant
CHINA
CID002848
Yes
Tin
Gejiu Jinye Mineral Company
CHINA
CID002859
Yes
Tin
Gejiu Kai Meng Industry and Trade LLC
CHINA
CID000942
Unknown
Tin
Gejiu Non-Ferrous Metal Processing Co., Ltd.
CHINA
CID000538
Yes
Tin
Gejiu Yunxin Nonferrous Electrolysis Co., Ltd.
CHINA
CID001908
Unknown
Tin
Gejiu Zili Mining And Metallurgy Co., Ltd.
CHINA
CID000555
Unknown
Tin
Guanyang Guida Nonferrous Metal Smelting Plant
CHINA
CID002849
Yes
Tin
HuiChang Hill Tin Industry Co., Ltd.
CHINA
CID002844
Yes
Tin
Huichang Jinshunda Tin Co., Ltd.
CHINA
CID000760
Unknown
Tin
Jiangxi Ketai Advanced Material Co., Ltd.
CHINA
CID000244
Yes



Tin
Magnu's Minerais Metais e Ligas Ltda.
BRAZIL
CID002468
Yes
Tin
Malaysia Smelting Corporation (MSC)
MALAYSIA
CID001105
Yes
Tin
Melt Metais e Ligas S.A.
BRAZIL
CID002500
Yes
Tin
Metallic Resources, Inc.
UNITED STATES
CID001142
Yes
Tin
Metallo-Chimique N.V.
BELGIUM
CID002773
Yes
Tin
Mineração Taboca S.A.
BRAZIL
CID001173
Yes
Tin
Minsur
PERU
CID001182
Yes
Tin
Mitsubishi Materials Corporation
JAPAN
CID001191
Yes
Tin
Modeltech Sdn Bhd
MALAYSIA
CID002858
Unknown
Tin
Nankang Nanshan Tin Manufactory Co., Ltd.
CHINA
CID001231
Unknown
Tin
Nghe Tinh Non-Ferrous Metals Joint Stock Company
VIET NAM
CID002573
Unknown
Tin
O.M. Manufacturing (Thailand) Co., Ltd.
THAILAND
CID001314
Yes
Tin
O.M. Manufacturing Philippines, Inc.
PHILIPPINES
CID002517
Yes
Tin
Operaciones Metalurgical S.A.
BOLIVIA
CID001337
Yes
Tin
Phoenix Metal Ltd.
RWANDA
CID002507
Unknown
Tin
PT Aries Kencana Sejahtera
INDONESIA
CID000309
Yes
Tin
PT Artha Cipta Langgeng
INDONESIA
CID001399
Yes
Tin
PT ATD Makmur Mandiri Jaya
INDONESIA
CID002503
Yes
Tin
PT Babel Inti Perkasa
INDONESIA
CID001402
Yes
Tin
PT Bangka Prima Tin
INDONESIA
CID002776
Yes
Tin
PT Bangka Tin Industry
INDONESIA
CID001419
Yes
Tin
PT Belitung Industri Sejahtera
INDONESIA
CID001421
Yes
Tin
PT Bukit Timah
INDONESIA
CID001428
Yes
Tin
PT Cipta Persada Mulia
INDONESIA
CID002696
Yes
Tin
PT DS Jaya Abadi
INDONESIA
CID001434
Yes
Tin
PT Eunindo Usaha Mandiri
INDONESIA
CID001438
Yes
Tin
PT Inti Stania Prima
INDONESIA
CID002530
Yes
Tin
PT Justindo
INDONESIA
CID000307
Yes
Tin
PT Karimun Mining
INDONESIA
CID001448
Yes
Tin
PT Kijang Jaya Mandiri
INDONESIA
CID002829
Yes
Tin
PT Lautan Harmonis Sejahtera
INDONESIA
CID002870
Yes
Tin
PT Mitra Stania Prima
INDONESIA
CID001453
Yes
Tin
PT O.M. Indonesia
INDONESIA
CID002757
Yes
Tin
PT Panca Mega Persada
INDONESIA
CID001457
Yes
Tin
PT Prima Timah Utama
INDONESIA
CID001458
Yes
Tin
PT Refined Bangka Tin
INDONESIA
CID001460
Yes
Tin
PT Sariwiguna Binasentosa
INDONESIA
CID001463
Yes
Tin
PT Stanindo Inti Perkasa
INDONESIA
CID001468
Yes
Tin
PT Sukses Inti Makmur
INDONESIA
CID002816
Yes
Tin
PT Sumber Jaya Indah
INDONESIA
CID001471
Yes
Tin
PT Timah (Persero) Tbk Kundur
INDONESIA
CID001477
Yes
Tin
PT Timah (Persero) Tbk Mentok
INDONESIA
CID001482
Yes
Tin
PT Tinindo Inter Nusa
INDONESIA
CID001490
Yes
Tin
PT Tommy Utama
INDONESIA
CID001493
Yes
Tin
PT Wahana Perkit Jaya
INDONESIA
CID002479
Yes
Tin
Resind Indústria e Comércio Ltda.
BRAZIL
CID002706
Yes
Tin
Rui Da Hung
TAIWAN
CID001539
Yes
Tin
Soft Metais Ltda.
BRAZIL
CID001758
Yes
Tin
Thaisarco
THAILAND
CID001898
Yes
Tin
Tuyen Quang Non-Ferrous Metals Joint Stock Company
VIET NAM
CID002574
Unknown



Tin
VQB Mineral and Trading Group JSC
VIET NAM
CID002015
Yes
Tin
White Solder Metalurgia e Mineração Ltda.
BRAZIL
CID002036
Yes
Tin
Yunnan Chengfeng Non-ferrous Metals Co., Ltd.
CHINA
CID002158
Unknown
Tin
Yunnan Tin Company Limited
CHINA
CID002180
Yes
Tungsten
A.L.M.T. TUNGSTEN Corp.
JAPAN
CID000004
Yes
Tungsten
ACL Metais Eireli
BRAZIL
CID002833
Unknown
Tungsten
Asia Tungsten Products Vietnam Ltd.
VIET NAM
CID002502
Yes
Tungsten
Chenzhou Diamond Tungsten Products Co., Ltd.
CHINA
CID002513
Yes
Tungsten
Chongyi Zhangyuan Tungsten Co., Ltd.
CHINA
CID000258
Yes
Tungsten
Dayu Weiliang Tungsten Co., Ltd.
CHINA
CID000345
Unknown
Tungsten
Fujian Jinxin Tungsten Co., Ltd.
CHINA
CID000499
Yes
Tungsten
Ganzhou Huaxing Tungsten Products Co., Ltd.
CHINA
CID000875
Yes
Tungsten
Ganzhou Jiangwu Ferrotungsten Co., Ltd.
CHINA
CID002315
Yes
Tungsten
Ganzhou Seadragon W & Mo Co., Ltd.
CHINA
CID002494
Yes
Tungsten
Ganzhou Yatai Tungsten Co., Ltd.
CHINA
CID002536
Unknown
Tungsten
Global Tungsten & Powders Corp.
UNITED STATES
CID000568
Yes
Tungsten
Guangdong Xianglu Tungsten Co., Ltd.
CHINA
CID000218
Yes
Tungsten
H.C. Starck GmbH
GERMANY
CID002541
Yes
Tungsten
H.C. Starck Smelting GmbH & Co.KG
GERMANY
CID002542
Yes
Tungsten
Hunan Chenzhou Mining Co., Ltd.
CHINA
CID000766
Yes
Tungsten
Hunan Chuangda Vanadium Tungsten Co., Ltd. Wuji
CHINA
CID002579
Yes
Tungsten
Hunan Chunchang Nonferrous Metals Co., Ltd.
CHINA
CID000769
Yes
Tungsten
Hydrometallurg, JSC
RUSSIAN FEDERATION
CID002649
Yes
Tungsten
Japan New Metals Co., Ltd.
JAPAN
CID000825
Yes
Tungsten
Jiangwu H.C. Starck Tungsten Products Co., Ltd.
CHINA
CID002551
Yes
Tungsten
Jiangxi Dayu Longxintai Tungsten Co., Ltd.
CHINA
CID002647
Unknown
Tungsten
Jiangxi Gan Bei Tungsten Co., Ltd.
CHINA
CID002321
Yes
Tungsten
Jiangxi Minmetals Gao'an Non-ferrous Metals Co., Ltd.
CHINA
CID002313
Unknown
Tungsten
Jiangxi Tonggu Non-ferrous Metallurgical & Chemical Co., Ltd.
CHINA
CID002318
Yes
Tungsten
Jiangxi Xinsheng Tungsten Industry Co., Ltd.
CHINA
CID002317
Yes
Tungsten
Jiangxi Xiushui Xianggan Nonferrous Metals Co., Ltd.
CHINA
CID002535
Yes
Tungsten
Jiangxi Yaosheng Tungsten Co., Ltd.
CHINA
CID002316
Yes
Tungsten
Kennametal Fallon
UNITED STATES
CID000966
Yes
Tungsten
Kennametal Huntsville
UNITED STATES
CID000105
Yes
Tungsten
Malipo Haiyu Tungsten Co., Ltd.
CHINA
CID002319
Yes
Tungsten
Moliren Ltd
RUSSIAN FEDERATION
CID002845
Yes
Tungsten
Niagara Refining LLC
UNITED STATES
CID002589
Yes
Tungsten
Nui Phao H.C. Starck Tungsten Chemicals Manufacturing LLC
VIET NAM
CID002543
Yes
Tungsten
Philippine Chuangxin Industrial Co., Inc.
PHILIPPINES
CID002827
Yes
Tungsten
South-East Nonferrous Metal Company Limited of Hengyang City
CHINA
CID002815
Yes



Tungsten
Tejing (Vietnam) Tungsten Co., Ltd.
VIET NAM
CID001889
Yes
Tungsten
Unecha Refractory metals plant
RUSSIAN FEDERATION
CID002724
Yes
Tungsten
Vietnam Youngsun Tungsten Industry Co., Ltd.
VIET NAM
CID002011
Yes
Tungsten
Wolfram Bergbau und Hütten AG
AUSTRIA
CID002044
Yes
Tungsten
Woltech Korea Co., Ltd.
KOREA, REPUBLIC OF
CID002843
Yes
Tungsten
Xiamen Tungsten (H.C.) Co., Ltd.
CHINA
CID002320
Yes
Tungsten
Xiamen Tungsten Co., Ltd.
CHINA
CID002082
Yes
Tungsten
Xinfeng Huarui Tungsten & Molybdenum New Material Co., Ltd.
CHINA
CID002830
Yes
Tungsten
Xinhai Rendan Shaoguan Tungsten Co., Ltd.
CHINA
CID002095
Yes