In 2010, US Congress passed the ‘Dodd-Frank Act’, with rules requiring SEC listed companies to disclose use of conflict minerals, to determine whether imports are originated in the DRC Zone or is recycled from scrap sources. Additionally, Starting January 2021, a new law will apply across the EU – the ‘Conflict Minerals Regulation’, by OECD; to check the imports are responsible supply chain of minerals and not from conflict-affected and high-risk areas.
Both these regulations bring new challenges like, gap in trace-ability and proper documentation, which are critical in compliance assessments and declarations.
All major importers of Tin, Tungsten, Tantalum and Gold i.e., 3TG; needs to declare source of import supporting the international efforts to reduce trade in conflict resources.
Our conflict minerals compliance services are: