Asahi Refining North America Statement on Responsible Sourcing of Colombian ASM Gold

Asahi Refining North America is aware of allegations reported by The New York Times in April 2026 concerning a Colombian artisanal and small-scale mining (ASM) supply chain that reaches our Salt Lake City refinery through our counterparty, Dillon Gage Metals. As a precautionary measure upon becoming aware of the report, we voluntarily suspended shipments of Colombian ASM gold and commenced a review of the matters raised. Our review included discussions with Dillon Gage Metals, a review of its compliance programme, and engagement with the Colombian Ministry of Mines.

Our review has not identified evidence substantiating the allegations of cartel involvement in the Colombian ASM supply chain reviewed. The Colombian RUCOM (Sole Registry of Mineral Traders) is among the more developed registration systems in the region, and the Colombian government has advised that it continues to strengthen the system, including moving from paper to electronic records and bringing ASM miners into official banking channels.

Consistent with the LBMA Responsible Sourcing Programme’s emphasis on engagement and progressive improvement, we have determined to take the following steps:

• Over a period of up to six months, we will work with Dillon Gage Metals to further strengthen supply-chain due diligence measures applicable to Colombian ASM sourcing.
• We will continue to accept non-Colombian ASM material from Dillon Gage Metals while this work is underway.
• On completion of this work, we will reassess the resumption of Colombian ASM sourcing. Should we determine that the applicable due-diligence standards cannot be met, we will decline to accept Colombian ASM material.

Asahi Refining remains committed to responsible sourcing and to supporting responsible ASM supply chains.

S C Houghton-Dodd

Senior Manager Precious Metal Supply Chain Assurance

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