04 Resources are precious to us
According to UNICEF, 3.3 earths would be needed to keep up with consumption levels of the OECD and EU countries. This rate of resource use is clearly unsustainable. Moreover, the extraction, processing, and disposal of natural resources can have significant environmental impacts.
Our business activities rely on precious resources. We live up to our responsibility by improving our processes and products so that they require fewer and fewer resources and by adopting circular approaches wherever possible. This includes responsible waste management and disposal, and an environmentally conscious use of chemicals and water. Our commitment to conserving resources is reinforced by our recycling efforts, which help to keep precious metals within the cycle of use.
Targets and KPIs
20%
SHARE OF RECYCLED
gold in our plants
in 2023
20% of the gold volume processed in our plants comes from secondary material. We aim to significantly increase the proportion of recycled gold in our products by 2027.
Up to
-98%
Carbon Footprint of
recycled vs primary
Precious Metals*
Many of our precious metal products are returned to us at the end of their lifetime. By making new products out of recycled fine metal, we are continuously keeping recovered precious metals in the loop.
*International Platinum Group Metals Association 2022 and 2023 reports
Recycling of precious metals
The recycling of precious metals requires a high level of technological expertise, including the ability to work with materials with different compositions to ensure an efficient recovery of precious metals without causing environmental harm.
As part of our commitment to sustainable practices, we continue to promote a circular approach among our clients. We are constantly improving our production processes to maximize the retention of precious metal content. We are currently able to recover over 99.8% of the gold sent to us for refining. In cases where we are unable to proceed with certain materials, we send them to audited third parties for recovery, thus ensuring that no precious metals are wasted.
Impacts on environment and biodiversity
Healthy, well-functioning ecosystems are the foundation of all life on our planet. Both our own operations and our upstream value chain can have a significant impact on the surrounding environment and biodiversity. This is why for us responsible sourcing and use of precious metals also means paying close attention to these potential impacts and minimizing them wherever possible.
Where we stand
Biodiversity
Starting 2024, we will conduct a biodiversity impact assessment for all our production and recycling sites, including a proximity analysis to identify biodiversity priority areas and features nearby. We will use these findings and refer to initiatives such as the Kunming-Montreal Global Biodiversity Framework to define further mitigation strategies.
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Considering the significant potential impacts mining has on nature, we pay close attention to our upstream value chain. There are many examples showing that the precious metals mining industry is aware of its impacts and is taking measures to address and reduce them. We encourage our mining partners in their ongoing efforts to steadily become more sustainable and to promote the global ambitions of halting and reversing biodiversity loss. Therefore, we are placing greater emphasis on biodiversity in our regular on-site assessments and are increasing our efforts to monitor potential drivers of biodiversity loss near mines as well as the countermeasures taken by our mining partners.
Where we stand
Water
Water plays an important role in our production processes: for example, it is needed in the chemical and electrolytic reactions during precious metal refining and is indispensable for cooling the processing machinery. Accordingly, we always comply with all applicable laws and regulations for managing and handling water and wastewater.
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In 2023 we started to work on establishing clear and measurable targets to reduce water use. As a pilot project, we have set the target to reduce water withdrawal at our Mendrisio site by 10% in 2024 compared to 2023.
We will continue to expand our reporting on water consumption and improve data quality with a particular focus on the amounts of water that enter and leave our production in the form of chemicals and products. Furthermore, we will analyze the specific water use per site. Our target is to complete this for our site in Mendrisio by the end of 2024.
The biggest share of our water footprint comes from our upstream value chain. Hence qualitative assessments of our mining partners’ water management systems, aligned with the strict LBMA standards, have already been part of all our regular on-site assessments for a long time. We recently started to gather quantitative data on water usage and water sources from our mining partners. As we gain more transparency, we will assess our mining partners regarding water and join them on their journey to reduce their impact.
In 2023, we reduced our water withdrawal by 5% compared to the previous year.
Our Mendrisio site registered a 4% decrease in water withdrawal. While business activities remained relatively stable during the year, thanks to strengthened attention we were able to reduce water usage.
At our Hong Kong site, we reduced our water withdrawal by 7%. Water withdrawal had already seen a reduction of 16% from 2021 to 2022.
At this site, we have been continuously working on reducing the amount of water used for the refining of precious metals, by optimizing the efficiency of the machines and increasing awareness on water usage among employees.
Water withdrawal
(in cubic meters)
No Data Found
Waste and other materials
At Argor-Heraeus, we acknowledge the importance of responsible waste management. Once materials have served their purpose, we adhere to strict standards and procedures for their disposal. Our waste management practices comply with rigorous legal requirements, ensuring safe and responsible waste disposal, including of wastewater.
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We recognize the importance of proper waste management to protect the environment. We have therefore implemented strict procedures to ensure the responsible disposal of various categories of waste.
We generate two main types of waste: hazardous waste and non-hazardous waste.
Our hazardous waste comprises various materials, including exhausted chemical solutions, wastewater and oils. It therefore requires special disposal procedures.
Our non-hazardous waste comes primarily from day-to-day operations and the packaging materials that accompany our goods, and includes materials such as such as PET, wood, ferrous waste and general waste.
In Switzerland, we comply with the regulations of the Federal Department of the Environment, Transport, Energy and Communications (DETEC).
In Hong Kong, our disposal processes follow the guidelines set by the Environmental Protection Department (EPD). These regulatory bodies play a critical role in ensuring that hazardous waste is handled and disposed of safely and in accordance with the highest environmental standards.
Waste (in metric tons), Mendrisio, Switzerland and Hong Kong, China
No Data Found
Projects and initiatives
With the support of Innosuisse (the Swiss Innovation Agency) we have initiated a joint project with Zurich University of Applied Sciences (ZHAW) to monitor and reduce the impact of mining activities on biodiversity. The project aims to implement data-driven methods for assessing and monitoring gold mines. The collaboration brings a new synergy of technology and expertise to tackle the persistent challenge of measuring and monitoring the biodiversity impacts of gold mines, among other parameters. We want to engage with our mining partners to ensure a reduced impact from their operations.
In 2022, we installed state-of-the-art equipment at our Mendrisio plant to transform wastewater from our processes into sodium nitrate by evaporation. In 2023, we were able to double our capacity and can now produce up to 450 tons of sodium nitrate per year. This transformation not only significantly reduces the amount of waste we produce, but also makes the sodium nitrate reusable as a valuable raw material for the cement and glass industries. Last year, our stated goal was to reduce the nitrate content in wastewater by 85% by 2024 compared to 2019. By 2023 we had reached a reduction of almost 50%.
Most of the PET that we use comes from the packaging of our investment range products for end-consumers. A smaller proportion comes from the use of water bottles and other beverages. For the packaging of our products, we are now able to recycle all the PET that we use. As a result, in 2023 we recycled 6,970 kilograms.
When precious metals reach our production sites, they are typically delivered in wooden boxes. In 2022, we still had to send 30% of the wood received to incineration. Thanks to a new project, and collaborating with a new partner, we are now able to recycle all the wood used at our Mendrisio site. In 2023, we recycled 51,800 kilograms of wood, which are used to produce chipboard.
05 People are precious to us
People are at the heart of everything. We are convinced that the human element is what creates impact, drives innovation, and fosters strong partnerships. These are essential for growth and sustainable transformation.
We prioritize the well-being and interests of the people in our company, in nearby communities, and along our value chain. This especially includes ensuring respect for human rights, fair working conditions, a safe and healthy work environment, living wages, and diverse and inclusive workplaces.