Metal Purchases Policy
Hoover & Strong Inc. is a provider of mill products, jewelry components, semi-finished jewelry and refining services to the jewelry industry.
All Hoover & Strong metal sourcing is undertaken recognizing our policy to avoid contributing to conflict. Hoover & Strong uses multiple sources for the fine metals needed to supply our manufacturing divisions.
Our principal supply of fine precious metals is our on-site refinery, where we only purchase scrap from domestic US customers, giving us a supply of 100% recycled precious metals. The scrap is predominantly in the form of unwanted jewelry, jewelry processing scrap and dental scrap. Each customer is pre-qualified by our rigorous KYC and AML policies, which are scaled in intensity with respect to the value of the customer’s refining business.
Further to this, Hoover & Strong purchases fine metals and karated products from a list of qualified refiners and vendors. These are as follows:
For Harmony Metals:
For Harmony metals, only 100% recycled precious metals are used and only from suppliers who are preferably either RJC or SCS Responsible Source certified, or who submit an annual declaration stating that 100% recycled materials only are sent to Hoover & Strong.
For non-Harmony Metals:
Non-Harmony metals are sourced from suppliers who are preferably either RJC or SCS Responsible Source certified, or who submit an annual declaration stating that they are a responsible source.
For ASM Metals:
ASM gold and silver are only sourced from Fairtrade or Fairmined certified mines. The exception to this is fine gold and silver sourced from our DRC partners who operate under the USAID and IMPACT programs and are members of the Consensas risk, due diligence and traceability platform.
Stewart Grice, VP Mill Products
Hoover & Strong
Effective: February 13, 2019