Korea Zinc announced on the 8th that it conducted on-site audits for some supply chains in the first half of this year.
Through on-site audits, it reviewed whether there are negative impacts such as forced labor, child labor, support for insurgent groups, and money laundering mentioned in the risk list of the Organisation for Economic Co-operation and Development (OECD). This is intended to follow responsible mineral procurement policies required by international organizations.
Responsible minerals refer to those that may be produced in conflict areas or pose risks related to human rights and the environment, necessitating management during the mining process. Recently, major global corporations are also strengthening the management of responsible minerals within their supply chains.
Korea Zinc is also establishing a management system that complies with the requirements of global certification organizations. It has subsequently published a responsible mineral management policy manual that outlines a specific implementation system including ▲establishing mineral procurement principles ▲imposing supplier codes of conduct ▲notifying the possibility of terminating transactions in case of violations.
A representative of Korea Zinc said, “In the future, we intend to expand responsible procurement principles company-wide, ensuring compliance with global ESG norms and building and expanding our supply chains that meet OECD guidelines.”