What countries have conflict minerals?
These countries are: Sudan, Central Africa Republic, Uganda, Congo Republic, Angola, Tanzania, Rwanda, Burundi, Democratic Republic of Congo, Zambia and Angola.
Which countries are involved in the illegal trade of conflict minerals?
Because of this, the US Conflict Minerals Law applies to materials originating (or claimed to originate) from the DRC as well as the nine adjoining countries: Angola, Burundi, Central African Republic, Republic of Congo, Rwanda, South Sudan, Zimbabwe, Uganda, and Zambia.
What is the new form for conflict minerals disclosure?
Form for and Timing of Disclosure: Under the final rule, the company is required to provide its conflict minerals disclosure in new Form SD. All affected companies will file the new form for the same period, a calendar year, regardless of their fiscal year end.
What is the EU doing about conflict minerals?
Therefore, the EU passed a new regulation in May 2017 to stop: global and EU smelters and refiners from using conflict minerals, and; mine workers from being abused. The law also supports the development of local communities. It requires EU companies to ensure they import these minerals and metals from responsible sources only.
What is the new SEC Rule on conflict minerals?
The new rule applies to a company that uses any conflict minerals if: the company files reports with the SEC pursuant to Exchange Act Sections 13(a) or 15(d); and. the minerals are “necessary to the functionality or production” of a product manufactured by the company or contracted by the company to be manufactured.
What are conflict minerals under Section 1502?
Under Section 1502, the term “conflict minerals” includes tantalum, tin, gold, or tungsten. Congress enacted Section 1502 because of concerns that the exploitation and trade of conflict minerals by armed groups is helping to finance conflict in the DRC region and is contributing to an emergency humanitarian crisis.