Conflict Minerals Regulation
What are Conflict Minerals?
They are minerals which are mined in areas deep in conflict and human right violations and are then sold to perpetuate the fighting. This occurs mostly in the Democratic Republic of Congo.
Which minerals does the law cover?
What has been done to help?
In 2010, the US Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act which directs the Securities and Exchange Commission (SEC) to issue rules requiring certain companies to publicly disclose their use of conflict minerals.
On August 22, 2012, SEC voted in favour of a Final Conflict Minerals Regulation. The final rule requires publicly traded companies to annually disclose information on the source of conflict minerals contained within their product and whether any of these minerals originated in the Democratic Republic of the Congo or an adjoining country.
What do I have to do?
Under the Final Conflict Minerals Regulation, companies are required to file a Conflict Minerals Report and are expected to exercise due diligence on the source of their conflict minerals.
Companies must disclose conflict minerals information on a calendar year basis, January 1 - December 31, and this information must be provided using a form called Form SD.
The EU has recently voted on what should be done to regulate Conflict Minerals for European Companies, find out more about the EU Regulations here
The ECAI's website has a full list of companies which conform to the Conflict Mineral Law.