GTP Suspends Colombia Tungsten Sourcing After Questions Raised

Towanda/Pennsylvania, USA, 2 July 2013 – Global Tungsten & Powders Corp. (GTP) has received information suggesting that the integrity of its tungsten supply chain in Colombia may have been compromised.

Information provided by a reliable source raises concerns that the tungsten minerals from Colombia may have been mined illegally and, unknown to GTP, that armed groups may be exerting influence over the tungsten mining sites and/or transportation routes. This information, so far unsubstantiated, nonetheless prompted GTP to suspend all further purchases of tungsten from Colombia, effective immediately, pending completion of an independent assessment of the situation in the Colombian department of Guainia.

GTP fully supports the OECD's Due Diligence Guidance on these issues and is acting to ensure that its sourcing activities do not unwittingly support armed groups and are not associated with human rights abuses or conflicts in any region. An international due diligence consultancy group has already been engaged to support the local assessment. The main source of tungsten for GTP is through long-term offtake agreements that GTP has with mines in Canada, Spain, Australia, Peru, Portugal and Brazil. Due to the relatively small amounts of tungsten purchased from Colombia, less than 1% of GTP’s production, all customers can be assured that their supply of tungsten products will not be disrupted in any way.

GTP follows a Code of Conduct that calls for responsible sourcing of raw materials and compliance with applicable laws and regulations. All suppliers are expected and obligated to do the same. GTP has been sourcing and processing tungsten materials in a responsible manner for more than 90 years, and is fully committed to purchasing raw materials only from conflict-free sources.

Contacts:
Press inquiries: denes.szechenyi(at)plansee.com
GTP Supplier Policy inquiries: karin.laursen(at)globaltungsten.com