Intro

The PX Group is a metallurgy group, with PX Precinox being one of its ten companies. The group aims to position itself as a leader in its various markets, and in doing so continues to seek new commitments, expand its expertise and seize innovation opportunities.

PX Precinox specialises in the processing of precious metals. The company’s day-to-day activity involves waste treatment, refining, and the development and manufacture of alloys, drawn and rolled semi-finished products, off-cut and stamped components, as well as banking products. Its products stand out for the high-quality alloys and complex shapes – in part due to its production remaining exclusively in-house.

PX Precinox employs around hundred people. Its products and services are used in industries like luxury goods, the medical sector, aeronautics, automotive, electro-technical and communication.

Through Earthworm Foundation membership, PX Precinox and Earthworm Foundation aim to accelerate a structural change in the artisanal and small-scale mining (ASM) sector. Together, we are committed to value creation for artisanal and small-scale miners and their communities, and believe this is possible through direct and transparent business models and the principle of partnership in the supply chain: from the ASM miners, processing plants, PX Group, and ultimately to PX’s customers.

In practice, this means:

1. Deeply understanding the dynamics (social/environmental/economic) for ASM miners/communities in the key sourcing locations;

2. Through innovation and partnership, working to enable positive livelihood outcomes while also strongly mitigating environmental impacts. We look to transparently share the progress/challenges, and together as PX and Earthworm inspire others to also go “beyond certification” in the ASM sector.

PX IMPACT®
PX Precinox has a PX IMPACT® initiative that was developed to create structural change in the artisanal and small-scale mining (ASM) sector. The initiative focuses on guaranteeing mercury-free extraction, volumes to meet industrial requirements and comprehensive traceability from mine to products. PX IMPACT® premiums are then fully invested in PX IMPACT® projects.

PX Impact projects are implemented through a not-for-profit association called FIDAMAR, which is committed to contributing to the social welfare and the sustainable development of the artisanal mining communities in Peru that are directly supplying the ore from which the PX Impact Gold is extracted. The projects implemented by FIDAMAR are all financed through the PX Impact Fund which collects premiums through the sale of PX Impact Gold.

Dating back to mid-2021, Earthworm Foundation has supported PX Precinox on various activities related to its PX Impact Program, namely:

i) conducting a benchmark of the PX Impact Standard with other gold industry certifications and standards,
ii) updating the PX Impact Standard based on said bench-marking,
iii) Conduct field verification visits of the Veta Dorada/Dynacor supply chain operations in Arequipa, Peru and Plantel Los Angeles (PLA) in Nicaragua as relates to the implementation of the PX Impact Standard.