Conflict Minerals: new rules and steps to take
Assisting you in becoming Conflict Minerals Compliant
What are conflict minerals?
Section 1502 of Dodd-Frank requires certain public companies to provide disclosures about the use of “conflict minerals” from the Democratic Republic of the Congo (DRC) and nine adjoining countries.
- Cassiterite: an ore of Tin and commonly used in electronics (solder), plating and as a stabilizer in plastics
- Columbite-Tantalite or “coltan”: an ore of the element tantalum that is commonly used in the manufacture of various electronics
- Wolframite: an ore of Tungsten that is commonly used in metal wire, electrical and welding applications
- Gold: common uses are in jewelry and electronics
The geographic scope of the EU legislative initiative will almost certainly include countries next to these DRC countries, possibly from Myanmar to Afghanistan to Latin-America. The minerals to be covered by an EU rule however is not likely to be expanded beyond the 3TG explained above covered by the US rule.