EX-1.01 2 d731024dex101.htm EX-1.01 EX-1.01

Exhibit 1.01

Manitex International, Inc.

Conflict Minerals Report

For The Year Ended December 31, 2018

Introduction and Summary

This report for the year ended December 31, 2018 is presented to comply with Rule 13p-1 under the Securities Exchange Act of 1934 (the Rule). The Rule was adopted by the Securities and Exchange Commission (“SEC”) and imposes certain reporting obligations on SEC registrants whose manufactured products contain conflict minerals that are necessary to the functionality or production of their products. The term “conflict minerals” is defined in Section 13(p) as (A) cassiterite, columbite-tantalite (coltan), gold, wolframite, and their derivatives, as limited by the Rule, tin, tantalum, tungsten, and gold (“3TG”); or (B) any other mineral or its derivatives determined by the Secretary of State to be financing conflict in the Democratic Republic of Congo (“DRC”) or any adjoining country that shares an internationally recognized border with the DRC (collectively referred to as the “Covered Countries”).Manitex International has reason to believe that some of the 3TGs present in their supply chain may have originated in the Covered Countries. We are unable with absolute assurance to determine the origin of the 3TG in our products and therefore cannot exclude the possibility that some may have originated in the Covered Countries. For that reason, we are required under the Rule to submit to the SEC a Conflict Minerals Report (CMR) as an Exhibit to Form SD.

Caution Concerning Forward-Looking Statements

Certain statements in this report may be “forward-looking” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “intends,” “plans,” “projects,” “believes,” and “estimates,” “targets,” “anticipates,” and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future plans, and any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially from these forward-looking statements. As a result, these statements speak only as of the date they are made and we undertake no obligation to update or revise any forward-looking statement, except as required by federal securities laws.

1. Company & Product Overview

The Company is a leading provider of engineered lifting solutions. The Company reports in a single business segment and has five operating segments. The Company designs, manufactures and distributes a diverse group of products that serve different functions and are used in a variety of industries.

Manitex, Inc. (“Manitex”) markets a comprehensive line of boom trucks, truck cranes and sign cranes. Manitex’s boom trucks and crane products are primarily used for industrial projects, energy exploration and infrastructure development, including roads, bridges and commercial construction.

Badger Equipment Company (“Badger”) is a manufacturer of specialized rough terrain cranes and material handling products. Badger primarily serves the needs of the construction, municipality and railroad industries.

PM Oil and Steel S.p.A. (“PM” or “PM Group”), formerly known as PM Group S.p.A., is a leading Italian manufacturer of truck- mounted hydraulic knuckle boom cranes with a 50-year history of technology and innovation, and a product range spanning more than 50 models. PM is also a manufacturer of truck-mounted aerial platforms with a diverse product line and an international client base.

Manitex Valla S.r.L. (“Valla”) produces a full range of precision pick and carry industrial cranes using electric, diesel, and hybrid power options. Its cranes offer wheeled or tracked, and fixed or swing boom configurations, with special applications designed specifically to meet the needs of its customers. These products are sold internationally through dealers and into the rental distribution channel.

Manitex Sabre, Inc. (“Sabre”), which is located in Knox, Indiana, manufactures a comprehensive line of specialized mobile tanks for liquid and solid storage and containment solutions with capacities from 8,000 to 21,000 gallons. Its mobile tanks are sold to specialized independent tank rental companies and through the Company’s existing dealer network. The tanks are used in a variety of end markets such as petrochemical, waste management and oil and gas drilling.

Crane and Machinery, Inc. (“C&M”) is a distributor of the Company’s products as well as Terex Corporation’s (“Terex”) rough terrain and truck cranes. Crane and Machinery Leasing, Inc. (“C&M Leasing”) rents equipment manufactured by the Company as well as a limited amount of equipment manufactured by third parties. Although C&M is a distributor of Terex rough terrain and truck cranes, C&M’s primary business is the distribution of products manufactured by the Company.

This report has been prepared by management of Manitex International, Inc. (herein referred to as “Manitex International,” the “Company,” “we,” “us,” or “our”). The information includes the activities of all majority-owned subsidiaries, except as may be noted above.

Our Conflict Minerals Policy can be found on the Manitex International website (http://www.manitexinternational.com/indexm.aspx) under the Investor Relations heading “Code of Ethics” and at: https://www.manitexinternational.com/codeofethics.aspx.

2. Description of RCOI

Manitex International’s reasonable country of origin inquiry (RCOI) employed a combination of measures to determine whether the necessary 3TGs in Manitex International’s products originated from the Covered Countries. Manitex International’s primary means of determining country of origin of necessary 3TGs was by conducting a supply chain survey with direct in-scope suppliers using the RBA-GeSI conflict minerals reporting template (“CMRT”), version 5.11 or higher.

Manitex International, Inc. designs, manufactures and markets a portfolio of highly engineered and customizable lifting equipment, spanning boom truck, telescopic, rough terrain and industrial cranes, and mobile liquid and solid containment solutions, including parts support for all products. C&M is a distributor of Terex rough terrain and truck cranes as well as Manitex’s own products. C&M offers equipment repair services in the Chicago area and supplies repair parts for a wide variety of medium to heavy duty construction equipment both domestically and internationally. C&M Leasing rents equipment manufactured by the Company as well as equipment manufactured by third parties.

To compile a list of suppliers to be contacted for our conflict minerals survey process, in 2013, Manitex International identified well over two thousand potential suppliers supporting our various segments and providing thousands of parts from fully assembled flatbed trucks, which we build our cranes on, to prefabricated steel booms and components as well as hundreds of other parts such as electronic components, electrical wiring, lighting, computers, and other smaller parts which may be integral to the operation and functioning of our completed products. As it is expected that some of our components could contain one or more of the 3TG minerals, it was decided to conduct a survey of all our production related suppliers.

In 2018, Manitex International continued their scoping process of the listing of suppliers from each of its subsidiaries. This list was filtered to remove service providers and any non-product related suppliers.

This process allowed Manitex International to compile a list of 366 suppliers across our various different divisions. The process helped to ensure that all suppliers surveyed provided items to Manitex International that were used in final products in the year 2018. Once the filtering was completed, Manitex International populated the list with contact information and then provided to Assent Compliance for upload to their Assent Compliance Manager SaaS (Software as a Solution) system.

It was deemed appropriate to not further filter this list based on the necessity of the presence of 3TGs in the product as Manitex International could not definitively determine the presence or absence of 3TGs in all parts supplied to them for their products. As part of the CMRT, question 1 allows for further analysis of the supplier, as it asks suppliers whether any of the 3TGs are necessary to the functionality or production of their products. Assent conducts additional analysis of the supply chain and, combined with supplier feedback, suppliers provided a response that allowed Assent and Manitex International to remove these suppliers from the scope of the conflict minerals analysis. The factors considered in Assent’s secondary analysis and the information provided that removed these suppliers from scope include:

 

  •  

The product they supply is packaging. (Labels do not count as packaging)

 

  •  

Parts that do not end up in the final product. (This includes equipment used to make the product but is not a part of the actual product itself. i.e. Industrial equipment, computers etc.)

 

  •  

Test Labs (i.e. Providers that test the resistance or durability of a product).

 

  •  

Service Providers (i.e. any supplier that provides a service but not an actual physical part).

 

  •  

Any supplier who has not supplied anything to Manitex International in the last 2 years.

During the supplier survey, suppliers were contacted via the Assent Compliance Manager, a SaaS platform that enables its users to complete and track supplier communications as well as allow suppliers to upload completed CMRTs directly to the platform for risk assessment and management. Non-responsive suppliers were contacted a minimum of 3 times by the Assent Compliance Manager and then were also managed by the Assent Compliance Support team in one on one communications.

Assent communications includes training and education on the completion of the CMRT to alleviate any confusion with suppliers. As an improvement to our program, for 2018 we continued to utilize Assent’s Learning Management System, Assent University, and provided all in-scope suppliers access to their Conflict Minerals training course. All suppliers are encouraged to complete all modules within this course. All communications were monitored and tracked in Assent’s system for future reporting and transparency.

Using Assent, we maintained our automated data validation practices on all submitted CMRTs. The goal of data validation is to increase the accuracy of submissions and identify any contradictory answers in the CMRT. This data validation is based on:

 

  •  

Questions 1 and 2 are minimum requirements for the CMRT

 

  •  

If suppliers state (via Q1 and Q2) that their products do not contain 3TGs necessary to the function or production of said products then no further information is required and no further data validation is completed.

 

  •  

Question 3 – Do any of your 3TGs originate from the covered countries?

 

  •  

Any supplier that has any 3TGs from the covered countries, even 1 positive response from their supply chain must answer yes.

 

  •  

Question 4– is 100% of the 3TG in question from a recycled source?

 

  •  

Question 5 – Have you received info from all relevant 3TG Suppliers?

 

  •  

If you are not at 100%, then you can’t make definitive statements for Questions 3, 4 and 6

 

  •  

Question 6 – Have you identified all your Smelters?

 

  •  

If the answer here is yes, then question 5 must be yes. This also impacts question 3.

All submitted forms are accepted and classified as valid or invalid (incorrect) so that data is still retained. Suppliers are contacted in regards to invalid forms and are encouraged to resubmit a valid (corrected) form. As of May 3rd, 2019, there were 4 invalid supplier submissions.

Based on the RCOI, we had reason to believe that some of the 3TGs may have originated from the Covered Countries, therefore, in accordance with the Rule, performed due diligence on the source and chain of custody of the conflict minerals in question.

3. Due Diligence Process

Design of Due Diligence

Our due diligence measures have been designed to conform, in all material respects, with the framework in T he Organisation for Economic Co-operation and Development (OECD) Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas (OECD Guidance) and the related Supplements for gold and for tin, tantalum and tungsten. The Guidance identifies five steps for due diligence that should be implemented and provides guidance as to how to achieve each step. We developed our due diligence process to address each of these five steps.

Step 1: Establish Strong Company Management Systems

As described above, Manitex International, Inc. has adopted a company policy which is posted on our website at https://www.manitexinternational.com/codeofethics.aspx

Internal Compliance Team

Manitex International has established a management system for conflict minerals. Our management system includes a steering committee consisting of our Principal Financial Officer and our project leader (our Director of Internal Audit). The project sponsor is our Principal Financial Officer and our team consists of Purchasing and Production Managers from each of our subsidiaries and is supplemented by Assent Compliance. The team is responsible for implementing our conflict minerals compliance strategy and is led by our Director of Internal Audit who acts as the executive conflict minerals program manager. Senior management is briefed about the results of our due diligence efforts periodically.

Control Systems

Controls include, but are not limited to, our Code of Ethics which outlines expected behaviors for all Manitex International’s employees and suppliers. A supplier conflict minerals contract clause is included in our Code of Ethics Policy. 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.

Supplier Engagement

With respect to the OECD requirement to strengthen engagement with suppliers, we have, through Assent, provided education on the Conflict Minerals regulation as well as the expectations of the law and for a continued business relationship, leveraged the existing communications within the company, specifically procurement to encourage their interactions with Assent as well as understand the requirement for completion.

In addition, our procurement Purchase Order terms and conditions include Conflict Minerals compliance requirements. Feedback from this engagement has allowed us to enhance the training, focus and adapt it to each user’s needs. It has also allowed for our supplier communications to be more focused and ensure expectations are clear.

Grievance Mechanisms

We have multiple longstanding grievance mechanisms whereby employees and suppliers can report violations of Manitex International’s policies. Manitex International is committed to supporting responsible sourcing of conflict minerals. As an international company it is our responsibility to create a framework within our corporate structure as to comply with Conflict Mineral reporting rules of section 1502 of the Dodd-Frank Act.

Any Covered Person (any employee of Manitex International and its operating subsidiaries) who becomes aware of a violation or potential violation of this policy must promptly report that information to a supervisor, or to a Board member or via our AlertLine communication system. AlertLine can be accessed on the Internet at http://manitexinternational.alertline.com or by calling 1-877-874-8416 (toll free).

Maintain Records

We have adopted a policy to retain relevant documentation. Documentation will be retained for a period of 5 years. Our Service Provider (Assent Compliance) retains conflict minerals related documents, including supplier responses to CMRTs. This information is stored in a database hosted by our Service Provider.

Step 2: Identifying and Assessing Risks in Our Supply Chain.

In accordance with OECD Guidance, it is important to understand risk levels associated with conflict minerals in the supply chain. Risks are identified automatically in the Assent Compliance Manager system based on criteria established for supplier responses in the system. These risks are addressed by Assent Compliance Supply Chain staff and members of our Conflict Minerals team internally, who contact the supplier, gather pertinent data and perform an assessment of the supplier’s conflict minerals status.

The primary risk we identified with respect to the reporting period ended December 31st, 2018 related to the nature of the responses received. Many the responses received provided data at a company or divisional level or were unable to specify the smelters or refiners used for 3TG in the components supplied to the Company.

Smelters not being certified DRC-Conflict Free pose a significant risk to the supply chain. Certain of the responses provided by suppliers to the CMRT 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. Assent compared these facilities listed in the responses to the list of smelters and refiners maintained by the Responsible Minerals Initiative (“RMI”) and, if a supplier indicated that the facility was certified as “Conflict-Free,” confirmed that the name was listed by RMI. As of May 3rd, 2019, we have validated 318 smelters or refiners and are working to validate the additional smelter/refiner entries from the submitted CMRTs. Due to the provision of primarily supplier-level CMRTs, we cannot definitively determine their connection to the Covered Products.

In the Assent Compliance Manager (the software used in conjunction with the services of our third party service provider), each facility that meets the RMI definition of a smelter or refiner of a 3TG is assigned a risk of High, Medium and Low; this Risk rating is generated based on 5 scoring criteria:

 

  •  

Responsible Minerals Assurance Process (RMAP) audit status

 

  •  

Geographic proximity to the DRC and covered countries

 

  •  

Known or plausible evidence of unethical or conflict sourcing

 

  •  

Credible evidence of unethical or conflict sourcing;

 

  •  

Peer Assessments conducted by credible third-party sources.

As part of our risk management plan under the OECD Guidance, when facilities with red flags were reported on a CMRT by one of the suppliers surveyed, risk mitigation activities are initiated. Through Assent Compliance, submissions that include any red flag facilities immediately 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 Manitex International, and escalating up to removal of these red flag smelters from their supply chain.

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”. It has been decided that penalizing or failing them for working through the process is likely not the best approach for the initial years of compliance, it does not meet the goals or spirit of the Rule, however evaluating and tracking the strength of the program does meet the OECD expectation.

Due Diligence Guidelines can assist in making key risk mitigation decisions as the program progresses. The criteria used to evaluate the strength of the programs are:

 

  A.

Have you established a conflict minerals sourcing policy?

 

  E.

Have you implemented due diligence measures for conflict-free sourcing?

 

  G

Do you review due diligence information received from your suppliers against your company’s expectations?

 

  H.

Does your review process include corrective action management?

When suppliers meet or exceed these criteria (Yes to at least A, E, G and H), they are deemed to have a strong program. When suppliers do not meet those criteria, they are deemed to have a weak program. This program categorization can be used in conjunction with other risk assessment factors to enable Manitex International to properly assess supplier relationships as needed to ensure compliance and risk mitigation. As of May 3rd, 2019, 25 suppliers were identified as having 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 Covered Products, including (1) seeking information about 3TG smelters and refiners in our supply chain through requesting that our suppliers complete the CMRT, (2) verifying those smelters and refiners with the expanding RMI lists, (3) conducting the due diligence review, and (4) obtaining additional documentation and verification, as applicable.

Step 3: Design and Implement a Strategy to Respond to Risks

Together with Assent, we developed processes to assess and respond to the risks identified in our supply chain. In response to this risk assessment, the Company has a risk management plan, through which the conflict minerals program is implemented, managed, and monitored. As the program progresses, escalations are sent to nonresponsive suppliers to outline the importance of a response via CMRTs and to outline the required cooperation for compliance to the Conflict Minerals rules. We engage any of our suppliers whom we have reason to believe are supplying us with 3TGs from sources that may support conflict in the Covered Countries to establish an alternative source of 3TG that does not support such conflict, as provided in the OECD Guidance.

Step 4: Carry Out Independent Third Party Audit of Supply Chain Due Diligence

We do not have a direct relationship with any 3TG smelters or refiners and do not perform or direct audits of these entities within our supply chain. Instead, we rely on third-party audits of smelters and refiners conducted as part of RMAP, which uses independent private sector auditors to audit the source, including the mines of origin, and the chain of custody of the conflict minerals used by smelters and refiners that agree to participate in the program.

Step 5: Publicly Report on Supply Chain Due Diligence

We have published our Form SD for the year ended December 31, 2018 and this report on our website at https://www.manitexinternational.com/sec_filings.aspx

4. Due Diligence Results

Survey Results

For the 2018 Reporting Year, 56% of Manitex International’s suppliers have responded to the supply chain survey via the CMRT, version 5.11 or higher. During the RCOI, responses were received that deemed 77 suppliers surveyed could be placed out of scope. These suppliers were excluded from our final response rate. The increase in the out of scope suppliers from FY2017 to FY2018 may be attributable to several factors: 1) the sale of two (2) Manitex divisions in 2016/2017, 2) new vendors/suppliers, and 3) cost cutting to reduce inventory levels where possible therefore no longer using these vendors. Of the received CMRTs, 54% were considered valid. A little over 1% of received CMRTs were considered invalid. Manitex International continues to review its vendor lists and is working with the suppliers to increase the valid response rates.

The large majority of the responses received provided data at a company or divisional level or, as described above, were unable to specify the smelters or refiners used for components supplied to Manitex International. We are therefore unable to determine whether the 3TGs reported by the suppliers were contained in components or parts supplied to us. Furthermore, suppliers did not always provide smelter lists nor were the smelter lists consistently completed with smelter identification numbers and therefore we were unable to validate that any of these smelters or refiners are actually in our supply chain.

Smelters and Refiners

Certain of the responses provided by suppliers to the CMRT 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. Assent compared these facilities listed in the responses to the list of smelters maintained by the Responsible Minerals Initiative (“RMI”) and, if a supplier indicated that the facility was certified as “Conflict-Free,” confirmed that the name was listed by RMI. As of May 3rd, 2019, we have validated 318 smelters or refiners and are working to validate additional smelter/refiner entries from the submitted CMRTs. Of these 318, 254 are certified to be compliant to RMAP conflict-free protocols. Attached at Appendix A, is a full list of all legitimate smelters or refiners that have been declared by our suppliers. Due to the submission of mostly company-level responses, we are not able to determine if all facilities listed can actually be linked to any Manitex products.

As noted above, the current efforts focus on gathering smelter information via the CMRT and, as the program progresses, requiring full completion of all necessary smelter identification information which will enable the validation and disclosure of the smelters as well as the tracing of the 3TGs to their location of origin. Seeking information about 3TG smelters and refiners in our supply chain represents the most reasonable effort we can make to determine the mines or locations of origin of the 3TG in our supply chain.

5. Steps to be taken to mitigate risk

Our conflict minerals program will continue to focus on vetting smelter and refiner data including:

 

  •  

Requiring the use of the smelter identification numbers. Supplier responses will not be considered complete without identification numbers.

 

  •  

Suppliers will also be requested to inform Manitex, through Assent, of the correlation between these smelters or refiners and the products and parts they supply to Manitex International and its in-scope divisions.

 

  •  

A comparison of the facilities identified to the RMI list of smelters.

 

  •  

Efforts to determine mine or location of origin.

We also intend to take the following steps to enhance the due diligence conducted to further mitigate any risk that the necessary 3TGs in our products could benefit armed groups in the Covered Countries:

 

  •  

Continue to include a conflict minerals flow-down clause in new or renewed supplier contracts. We will reemphasize this requirement with our Purchasing Agents.

 

  •  

Continue to engage with suppliers and direct them to training resources to attempt to increase the response rate and improve the content of the supplier survey responses.

 

  •  

Engage any of our suppliers found to be supplying us with 3TGs from sources that directly or indirectly finance armed conflict in the Covered Countries to determine if an alternative source of 3TGs can be found that do not support such armed conflict.

Appendix A

Potential Smelters and Refiners List

This list includes all of the smelters and refiners listed by our suppliers in their completed CMRTs that appear on the lists of smelters maintained by the RMI. Since most of the CMRTs we received from our suppliers were made on a company or division level basis, rather than on a product-level basis, we are not able to identify which smelters or refiners listed below actually processed the 3TGs contained in our products. Therefore, our list of processing smelters and refiners disclosed here may contain more facilities than those that actually processed the conflict minerals contained in our products.

 

Metal

   

Standard Smelter Name

   

Smelter Facility Location

   

Smelter ID

Gold    8853 S.p.A.    ITALY    CID002763
Gold    Abington Reldan Metals, LLC    UNITED STATES    CID002708
Gold    Advanced Chemical Company    UNITED STATES    CID000015
Gold    African Gold Refinery    UGANDA    CID003185
Gold    Aida Chemical Industries Co., Ltd.    JAPAN    CID000019
Gold    Al Etihad Gold LLC    UNITED ARAB EMIRATES    CID002560
Gold    Allgemeine Gold-und Silberscheideanstalt A.G.    GERMANY    CID000035
Gold    Almalyk Mining and Metallurgical Complex (AMMC)    UZBEKISTAN    CID000041
Gold    AngloGold Ashanti Córrego do Sítio Mineração    BRAZIL    CID000058
Gold    Argor-Heraeus S.A.    SWITZERLAND    CID000077
Gold    Asahi Pretec Corp.    JAPAN    CID000082
Gold    Asahi Refining Canada Ltd.    CANADA    CID000924
Gold    Asahi Refining USA Inc.    UNITED STATES    CID000920
Gold    Asaka Riken Co., Ltd.    JAPAN    CID000090
Gold    Atasay Kuyumculuk Sanayi Ve Ticaret A.S.    TURKEY    CID000103
Gold    AU Traders and Refiners    SOUTH AFRICA    CID002850
Gold    Aurubis AG    GERMANY    CID000113
Gold    Bangalore Refinery    INDIA    CID002863
Gold    Bangko Sentral ng Pilipinas (Central Bank of the Philippines)    PHILIPPINES    CID000128
Gold    Boliden AB    SWEDEN    CID000157
Gold    C. Hafner GmbH + Co. KG    GERMANY    CID000176
Gold    Caridad    MEXICO    CID000180
Gold    CCR Refinery - Glencore Canada Corporation    CANADA    CID000185
Gold    Cendres + Métaux S.A.    SWITZERLAND    CID000189
Gold    Chimet S.p.A.    ITALY    CID000233
Gold    Chugai Mining    JAPAN    CID000264
Gold    Daejin Indus Co., Ltd.    KOREA, REPUBLIC OF    CID000328
Gold    Daye Non-Ferrous Metals Mining Ltd.    CHINA    CID000343
Gold    Degussa Sonne / Mond Goldhandel GmbH    GERMANY    CID002867
Gold    Dijllah Gold Refinery FZC    UNITED ARAB EMIRATES    CID003348
Gold    DODUCO Contacts and Refining GmbH    GERMANY    CID000362
Gold    Dowa    JAPAN    CID000401
Gold    DS PRETECH Co., Ltd.    KOREA, REPUBLIC OF    CID003195
Gold    DSC (Do Sung Corporation)    KOREA, REPUBLIC OF    CID000359

Gold    Eco-System Recycling Co., Ltd.    JAPAN    CID000425
Gold    Emirates Gold DMCC    UNITED ARAB EMIRATES    CID002561
Gold    Fidelity Printers and Refiners Ltd.    ZIMBABWE    CID002515
Gold    Fujairah Gold FZE    UNITED ARAB EMIRATES    CID002584
Gold    GCC Gujrat Gold Centre Pvt. Ltd.    INDIA    CID002852
Gold    Geib Refining Corporation    UNITED STATES    CID002459
Gold    Gold Refinery of Zijin Mining Group Co., Ltd.    CHINA    CID002243
Gold    Great Wall Precious Metals Co., Ltd. of CBPM    CHINA    CID001909
Gold    Guangdong Jinding Gold Limited    CHINA    CID002312
Gold    Guoda Safina High-Tech Environmental Refinery Co., Ltd.    CHINA    CID000651
Gold    Hangzhou Fuchunjiang Smelting Co., Ltd.    CHINA    CID000671
Gold    HeeSung    KOREA, REPUBLIC OF    CID000689
Gold    Heimerle + Meule GmbH    GERMANY    CID000694
Gold    Heraeus Metals Hong Kong Ltd.    CHINA    CID000707
Gold    Heraeus Precious Metals GmbH & Co. KG    GERMANY    CID000711
Gold    Hunan Chenzhou Mining Co., Ltd.    CHINA    CID000767
Gold    Hunan Guiyang yinxing Nonferrous Smelting Co., Ltd.    CHINA    CID000773
Gold    Hwasung CJ Co., Ltd.    KOREA, REPUBLIC OF    CID000778
Gold    Inner Mongolia Qiankun Gold and Silver Refinery Share Co., Ltd.    CHINA    CID000801
Gold    International Precious Metal Refiners    UNITED ARAB EMIRATES    CID002562
Gold    Ishifuku Metal Industry Co., Ltd.    JAPAN    CID000807
Gold    Istanbul Gold Refinery    TURKEY    CID000814
Gold    Italpreziosi    ITALY    CID002765
Gold    Japan Mint    JAPAN    CID000823
Gold    Jiangxi Copper Co., Ltd.    CHINA    CID000855
Gold    JSC Ekaterinburg Non-Ferrous Metal Processing Plant    RUSSIAN FEDERATION    CID000927
Gold    JSC Uralelectromed    RUSSIAN FEDERATION    CID000929
Gold    JX Nippon Mining & Metals Co., Ltd.    JAPAN    CID000937
Gold    Kaloti Precious Metals    UNITED ARAB EMIRATES    CID002563
Gold    Kazakhmys Smelting LLC    KAZAKHSTAN    CID000956
Gold    Kazzinc    KAZAKHSTAN    CID000957
Gold    Kennecott Utah Copper LLC    UNITED STATES    CID000969
Gold    KGHM Polska Miedz Spolka Akcyjna    POLAND    CID002511
Gold    Kojima Chemicals Co., Ltd.    JAPAN    CID000981
Gold    Korea Zinc Co., Ltd.    KOREA, REPUBLIC OF    CID002605
Gold    Kyrgyzaltyn JSC    KYRGYZSTAN    CID001029
Gold    Kyshtym Copper-Electrolytic Plant ZAO    RUSSIAN FEDERATION    CID002865
Gold    L’azurde Company For Jewelry    SAUDI ARABIA    CID001032
Gold    Lingbao Gold Co., Ltd.    CHINA    CID001056
Gold    Lingbao Jinyuan Tonghui Refinery Co., Ltd.    CHINA    CID001058

Gold    L’Orfebre S.A.    ANDORRA    CID002762
Gold    LS-NIKKO Copper Inc.    KOREA, REPUBLIC OF    CID001078
Gold    Luoyang Zijin Yinhui Gold Refinery Co., Ltd.    CHINA    CID001093
Gold    Marsam Metals    BRAZIL    CID002606
Gold    Materion    UNITED STATES    CID001113
Gold    Matsuda Sangyo Co., Ltd.    JAPAN    CID001119
Gold    Metalor Technologies (Hong Kong) Ltd.    CHINA    CID001149
Gold    Metalor Technologies (Singapore) Pte., Ltd.    SINGAPORE    CID001152
Gold    Metalor Technologies (Suzhou) Ltd.    CHINA    CID001147
Gold    Metalor Technologies S.A.    SWITZERLAND    CID001153
Gold    Metalor USA Refining Corporation    UNITED STATES    CID001157
Gold    Metalúrgica Met-Mex Peñoles S.A. De C.V.    MEXICO    CID001161
Gold    Mitsubishi Materials Corporation    JAPAN    CID001188
Gold    Mitsui Mining and Smelting Co., Ltd.    JAPAN    CID001193
Gold    MMTC-PAMP India Pvt., Ltd.    INDIA    CID002509
Gold    Modeltech Sdn Bhd    MALAYSIA    CID002857
Gold    Morris and Watson    NEW ZEALAND    CID002282
Gold    Morris and Watson Gold Coast    AUSTRALIA    CID002866
Gold    Moscow Special Alloys Processing Plant    RUSSIAN FEDERATION    CID001204
Gold    Nadir Metal Rafineri San. Ve Tic. A.Ş.    TURKEY    CID001220
Gold    Navoi Mining and Metallurgical Combinat    UZBEKISTAN    CID001236
Gold    NH Recytech Company    KOREA, REPUBLIC OF    CID003189
Gold    Nihon Material Co., Ltd.    JAPAN    CID001259
Gold    Ögussa Österreichische Gold- und Silber-Scheideanstalt GmbH    AUSTRIA    CID002779
Gold    Ohura Precious Metal Industry Co., Ltd.    JAPAN    CID001325
Gold    OJSC “The Gulidov Krasnoyarsk Non-Ferrous Metals Plant” (OJSC Krastsvetmet)    RUSSIAN FEDERATION    CID001326
Gold    OJSC Novosibirsk Refinery    RUSSIAN FEDERATION    CID000493
Gold    PAMP S.A.    SWITZERLAND    CID001352
Gold    Pease & Curren    UNITED STATES    CID002872
Gold    Penglai Penggang Gold Industry Co., Ltd.    CHINA    CID001362
Gold    Planta Recuperadora de Metales SpA    CHILE    CID002919
Gold    Prioksky Plant of Non-Ferrous Metals    RUSSIAN FEDERATION    CID001386
Gold    PT Aneka Tambang (Persero) Tbk    INDONESIA    CID001397
Gold    PX Précinox S.A.    SWITZERLAND    CID001498
Gold    QG Refining, LLC    UNITED STATES OF AMERICA    CID003324
Gold    Rand Refinery (Pty) Ltd.    SOUTH AFRICA    CID001512
Gold    Refinery of Seemine Gold Co., Ltd.    CHINA    CID000522
Gold    Remondis Argentia B.V.    NETHERLANDS    CID002582
Gold    Republic Metals Corporation    UNITED STATES    CID002510

Gold    Royal Canadian Mint    CANADA    CID001534
Gold    SAAMP    FRANCE    CID002761
Gold    Sabin Metal Corp.    UNITED STATES    CID001546
Gold    Safimet S.p.A    Italy    CID002973
Gold    SAFINA A.S.    CZECH REPUBLIC    CID002290
Gold    Sai Refinery    INDIA    CID002853
Gold    Samduck Precious Metals    KOREA, REPUBLIC OF    CID001555
Gold    SAMWON Metals Corp.    KOREA, REPUBLIC OF    CID001562
Gold    SAXONIA Edelmetalle GmbH    GERMANY    CID002777
Gold    SEMPSA Joyería Platería S.A.    SPAIN    CID001585
Gold    Shandong Tiancheng Biological Gold Industrial Co., Ltd.    CHINA    CID001619
Gold    Shandong Zhaojin Gold & Silver Refinery Co., Ltd.    CHINA    CID001622
Gold    Sichuan Tianze Precious Metals Co., Ltd.    CHINA    CID001736
Gold    Singway Technology Co., Ltd.    TAIWAN    CID002516
Gold    SOE Shyolkovsky Factory of Secondary Precious Metals    RUSSIAN FEDERATION    CID001756
Gold    Solar Applied Materials Technology Corp.    TAIWAN    CID001761
Gold    State Research Institute Center for Physical Sciences and Technology    LITHUANIA    CID003153
Gold    Sudan Gold Refinery    SUDAN    CID002567
Gold    Sumitomo Metal Mining Co., Ltd.    JAPAN    CID001798
Gold    SungEel HiTech    KOREA, REPUBLIC OF    CID002918
Gold    T.C.A S.p.A    ITALY    CID002580
Gold    Tanaka Kikinzoku Kogyo K.K.    JAPAN    CID001875
Gold    The Refinery of Shandong Gold Mining Co., Ltd.    CHINA    CID001916
Gold    Tokuriki Honten Co., Ltd.    JAPAN    CID001938
Gold    Tongling Nonferrous Metals Group Co., Ltd.    CHINA    CID001947
Gold    Tony Goetz NV    BELGIUM    CID002587
Gold    TOO Tau-Ken-Altyn    KAZAKHSTAN    CID002615
Gold    Torecom    KOREA, REPUBLIC OF    CID001955
Gold    Umicore Brasil Ltda.    BRAZIL    CID001977
Gold    Umicore Precious Metals Thailand    THAILAND    CID002314
Gold    Umicore S.A. Business Unit Precious Metals Refining    BELGIUM    CID001980
Gold    United Precious Metal Refining, Inc.    UNITED STATES    CID001993
Gold    Universal Precious Metals Refining Zambia    ZAMBIA    CID002854
Gold    Valcambi S.A.    SWITZERLAND    CID002003
Gold    Western Australian Mint trading as The Perth Mint    AUSTRALIA    CID002030
Gold    WIELAND Edelmetalle GmbH    GERMANY    CID002778
Gold    Yamamoto Precious Metal Co., Ltd.    JAPAN    CID002100
Gold    Yokohama Metal Co., Ltd.    JAPAN    CID002129
Gold    Yunnan Copper Industry Co., Ltd.    CHINA    CID000197
Gold    Zhongyuan Gold Smelter of Zhongjin Gold Corporation    CHINA    CID002224

Tantalum    Asaka Riken Co., Ltd.    JAPAN    CID000092
Tantalum    Changsha South Tantalum Niobium Co., Ltd.    CHINA    CID000211
Tantalum    D Block Metals, LLC    UNITED STATES    CID002504
Tantalum    Exotech Inc.    UNITED STATES    CID000456
Tantalum    F&X Electro-Materials Ltd.    CHINA    CID000460
Tantalum    FIR Metals & Resource Ltd.    CHINA    CID002505
Tantalum    Global Advanced Metals Aizu    JAPAN    CID002558
Tantalum    Global Advanced Metals Boyertown    UNITED STATES    CID002557
Tantalum    Guangdong Rising Rare Metals-EO Materials Ltd.    CHINA    CID000291
Tantalum    Guangdong Zhiyuan New Material Co., Ltd.    CHINA    CID000616
Tantalum    H.C. Starck Co., Ltd.    THAILAND    CID002544
Tantalum    H.C. Starck Hermsdorf GmbH    GERMANY    CID002547
Tantalum    H.C. Starck Inc.    UNITED STATES    CID002548
Tantalum    H.C. Starck Ltd.    JAPAN    CID002549
Tantalum    H.C. Starck Smelting GmbH & Co. KG    GERMANY    CID002550
Tantalum    H.C. Starck Tantalum and Niobium GmbH    GERMANY    CID002545
Tantalum    Hengyang King Xing Lifeng New Materials Co., Ltd.    CHINA    CID002492
Tantalum    Jiangxi Dinghai Tantalum & Niobium Co., Ltd.    CHINA    CID002512
Tantalum    Jiangxi Tuohong New Raw Material    CHINA    CID002842
Tantalum    Jiujiang Janny New Material Co., Ltd.    CHINA    CID003191
Tantalum    JiuJiang JinXin Nonferrous Metals Co., Ltd.    CHINA    CID000914
Tantalum    Jiujiang Tanbre Co., Ltd.    CHINA    CID000917
Tantalum    Jiujiang Zhongao Tantalum & Niobium Co., Ltd.    CHINA    CID002506
Tantalum    KEMET Blue Metals    MEXICO    CID002539
Tantalum    KEMET Blue Powder    UNITED STATES    CID002568
Tantalum    LSM Brasil S.A.    BRAZIL    CID001076
Tantalum    Metallurgical Products India Pvt., Ltd.    INDIA    CID001163
Tantalum    Mineracao Taboca S.A.    BRAZIL    CID001175
Tantalum    Mitsui Mining and Smelting Co., Ltd.    JAPAN    CID001192
Tantalum    Ningxia Orient Tantalum Industry Co., Ltd.    CHINA    CID001277
Tantalum    NPM Silmet AS    ESTONIA    CID001200
Tantalum    Power Resources Ltd.    MACEDONIA    CID002847
Tantalum    QuantumClean    UNITED STATES    CID001508
Tantalum    Resind Industria e Comercio Ltda.    BRAZIL    CID002707
Tantalum    RFH Tantalum Smeltry Co., Ltd.    CHINA    CID001522
Tantalum    Solikamsk Magnesium Works OAO    RUSSIAN FEDERATION    CID001769
Tantalum    Taki Chemicals    JAPAN    CID001869
Tantalum    Telex Metals    UNITED STATES    CID001891
Tantalum    Ulba Metallurgical Plant JSC    KAZAKHSTAN    CID001969
Tantalum    XinXing HaoRong Electronic Material Co., Ltd.    CHINA    CID002508

Tin    Alpha    UNITED STATES    CID000292
Tin    An Vinh Joint Stock Mineral Processing Company    VIET NAM    CID002703
Tin    Chenzhou Yunxiang Mining and Metallurgy Co., Ltd.    CHINA    CID000228
Tin    Chifeng Dajingzi Tin Industry Co., Ltd.    CHINA    CID003190
Tin    China Tin Group Co., Ltd.    CHINA    CID001070
Tin    CV Ayi Jaya    INDONESIA    CID002570
Tin    CV Dua Sekawan    INDONESIA    CID002592
Tin    CV Gita Pesona    INDONESIA    CID000306
Tin    CV Tiga Sekawan    INDONESIA    CID002593
Tin    CV United Smelting    INDONESIA    CID000315
Tin    CV Venus Inti Perkasa    INDONESIA    CID002455
Tin    Dongguan CiEXPO Environmental Engineering Co., Ltd.    CHINA    CID003356
Tin    Dowa    JAPAN    CID000402
Tin    Electro-Mechanical Facility of the Cao Bang Minerals & Metallurgy Joint Stock Company    VIET NAM    CID002572
Tin    EM Vinto    BOLIVIA    CID000438
Tin    Estanho de Rondônia S.A.    BRAZIL    CID000448
Tin    Fenix Metals    POLAND    CID000468
Tin    Gejiu Fengming Metallurgy Chemical Plant    CHINA    CID002848
Tin    Gejiu Kai Meng Industry and Trade LLC    CHINA    CID000942
Tin    Gejiu Non-Ferrous Metal Processing Co., Ltd.    CHINA    CID000538
Tin    Gejiu Yunxin Nonferrous Electrolysis Co., Ltd.    CHINA    CID001908
Tin    Gejiu Zili Mining And Metallurgy Co., Ltd.    CHINA    CID000555
Tin    Guangdong Hanhe Non-ferrous Metal Limited Company    CHINA    CID003116
Tin    Guanyang Guida Nonferrous Metal Smelting Plant    CHINA    CID002849
Tin    HuiChang Hill Tin Industry Co., Ltd.    CHINA    CID002844
Tin    Huichang Jinshunda Tin Co., Ltd.    CHINA    CID000760
Tin    Jiangxi New Nanshan Technology Ltd.    CHINA    CID001231
Tin    Magnu’s Minerais Metais e Ligas Ltda.    BRAZIL    CID002468
Tin    Malaysia Smelting Corporation (MSC)    MALAYSIA    CID001105
Tin    Melt Metais e Ligas S.A.    BRAZIL    CID002500
Tin    Metallic Resources, Inc.    UNITED STATES    CID001142
Tin    Metallo Belgium N.V.    BELGIUM    CID002773
Tin    Metallo Spain S.L.U.    SPAIN    CID002774
Tin    Mineracao Taboca S.A.    BRAZIL    CID001173
Tin    Minsur    PERU    CID001182
Tin    Mitsubishi Materials Corporation    JAPAN    CID001191
Tin    Modeltech Sdn Bhd    MALAYSIA    CID002858
Tin    Nghe Tinh Non-Ferrous Metals Joint Stock Company    VIET NAM    CID002573
Tin    O.M. Manufacturing (Thailand) Co., Ltd.    THAILAND    CID001314

Tin    O.M. Manufacturing Philippines, Inc.    PHILIPPINES    CID002517
Tin    Operaciones Metalurgical S.A.    BOLIVIA    CID001337
Tin    Pongpipat Company Limited    MYANMAR    CID003208
Tin    PT Aries Kencana Sejahtera    INDONESIA    CID000309
Tin    PT Artha Cipta Langgeng    INDONESIA    CID001399
Tin    PT ATD Makmur Mandiri Jaya    INDONESIA    CID002503
Tin    PT Babel Inti Perkasa    INDONESIA    CID001402
Tin    PT Babel Surya Alam Lestari    INDONESIA    CID001406
Tin    PT Bangka Prima Tin    INDONESIA    CID002776
Tin    PT Bangka Serumpun    INDONESIA    CID003205
Tin    PT Bangka Tin Industry    INDONESIA    CID001419
Tin    PT Belitung Industri Sejahtera    INDONESIA    CID001421
Tin    PT Bukit Timah    INDONESIA    CID001428
Tin    PT DS Jaya Abadi    INDONESIA    CID001434
Tin    PT Inti Stania Prima    INDONESIA    CID002530
Tin    PT Karimun Mining    INDONESIA    CID001448
Tin    PT Kijang Jaya Mandiri    INDONESIA    CID002829
Tin    PT Menara Cipta Mulia    INDONESIA    CID002835
Tin    PT Mitra Stania Prima    INDONESIA    CID001453
Tin    PT Panca Mega Persada    INDONESIA    CID001457
Tin    PT Premium Tin Indonesia    INDONESIA    CID000313
Tin    PT Prima Timah Utama    INDONESIA    CID001458
Tin    PT Refined Bangka Tin    INDONESIA    CID001460
Tin    PT Sariwiguna Binasentosa    INDONESIA    CID001463
Tin    PT Stanindo Inti Perkasa    INDONESIA    CID001468
Tin    PT Sukses Inti Makmur    INDONESIA    CID002816
Tin    PT Sumber Jaya Indah    INDONESIA    CID001471
Tin    PT Timah (Persero) Tbk Kundur    INDONESIA    CID001477
Tin    PT Timah (Persero) Tbk Mentok    INDONESIA    CID001482
Tin    PT Tinindo Inter Nusa    INDONESIA    CID001490
Tin    PT Tirus Putra Mandiri    INDONESIA    CID002478
Tin    PT Tommy Utama    INDONESIA    CID001493
Tin    Resind Industria e Comercio Ltda.    BRAZIL    CID002706
Tin    Rui Da Hung    TAIWAN    CID001539
Tin    Soft Metais Ltda.    BRAZIL    CID001758
Tin    Super Ligas    Brazil    CID002756
Tin    Thaisarco    THAILAND    CID001898
Tin    Tin Technology & Refining    UNITED STATES OF AMERICA    CID003325
Tin    Tuyen Quang Non-Ferrous Metals Joint Stock Company    VIET NAM    CID002574

Tin    White Solder Metalurgia e Mineração Ltda.    BRAZIL    CID002036
Tin    Yunnan Chengfeng Non-ferrous Metals Co., Ltd.    CHINA    CID002158
Tin    Yunnan Tin Company Limited    CHINA    CID002180
Tungsten    A.L.M.T. TUNGSTEN Corp.    JAPAN    CID000004
Tungsten    ACL Metais Eireli    BRAZIL    CID002833
Tungsten    Asia Tungsten Products Vietnam Ltd.    VIET NAM    CID002502
Tungsten    Chenzhou Diamond Tungsten Products Co., Ltd.    CHINA    CID002513
Tungsten    Chongyi Zhangyuan Tungsten Co., Ltd.    CHINA    CID000258
Tungsten    Fujian Jinxin Tungsten Co., Ltd.    CHINA    CID000499
Tungsten    Ganzhou Haichuang Tungsten Co., Ltd.    CHINA    CID002645
Tungsten    Ganzhou Huaxing Tungsten Products Co., Ltd.    CHINA    CID000875
Tungsten    Ganzhou Jiangwu Ferrotungsten Co., Ltd.    CHINA    CID002315
Tungsten    Ganzhou Seadragon W & Mo Co., Ltd.    CHINA    CID002494
Tungsten    Ganzhou Yatai Tungsten Co., Ltd.    CHINA    CID002536
Tungsten    Global Tungsten & Powders Corp.    UNITED STATES    CID000568
Tungsten    Guangdong Xianglu Tungsten Co., Ltd.    CHINA    CID000218
Tungsten    H.C. Starck Smelting GmbH & Co.KG    GERMANY    CID002542
Tungsten    H.C. Starck Tungsten GmbH    GERMANY    CID002541
Tungsten    Hunan Chenzhou Mining Co., Ltd.    CHINA    CID000766
Tungsten    Hunan Chuangda Vanadium Tungsten Co., Ltd. Wuji    CHINA    CID002579
Tungsten    Hunan Chunchang Nonferrous Metals Co., Ltd.    CHINA    CID000769
Tungsten    Hunan Litian Tungsten Industry Co., Ltd.    CHINA    CID003182
Tungsten    Hydrometallurg, JSC    RUSSIAN FEDERATION    CID002649
Tungsten    Japan New Metals Co., Ltd.    JAPAN    CID000825
Tungsten    Jiangwu H.C. Starck Tungsten Products Co., Ltd.    CHINA    CID002551
Tungsten    Jiangxi Dayu Longxintai Tungsten Co., Ltd.    CHINA    CID002647
Tungsten    Jiangxi Gan Bei Tungsten Co., Ltd.    CHINA    CID002321
Tungsten    Jiangxi Minmetals Gao’an Non-ferrous Metals Co., Ltd.    CHINA    CID002313
Tungsten    Jiangxi Tonggu Non-ferrous Metallurgical & Chemical Co., Ltd.    CHINA    CID002318
Tungsten    Jiangxi Xinsheng Tungsten Industry Co., Ltd.    CHINA    CID002317
Tungsten    Jiangxi Yaosheng Tungsten Co., Ltd.    CHINA    CID002316
Tungsten    Kennametal Fallon    UNITED STATES    CID000966
Tungsten    Kennametal Huntsville    UNITED STATES    CID000105
Tungsten    Malipo Haiyu Tungsten Co., Ltd.    CHINA    CID002319
Tungsten    Moliren Ltd    RUSSIAN FEDERATION    CID002845
Tungsten    Niagara Refining LLC    UNITED STATES    CID002589
Tungsten    Nui Phao H.C. Starck Tungsten Chemicals Manufacturing LLC    VIET NAM    CID002543
Tungsten    Philippine Chuangxin Industrial Co., Inc.    PHILIPPINES    CID002827
Tungsten    South-East Nonferrous Metal Company Limited of Hengyang City    CHINA    CID002815
Tungsten    Tejing (Vietnam) Tungsten Co., Ltd.    VIET NAM    CID001889

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