The regulation explained. On 1 January 2021 a new law will come into full force across the EU – the Conflict Minerals Regulation. It aims to help stem the trade in four minerals – tin, tantalum, tungsten and gold – which sometimes finance armed conflict or are mined using forced labour.
Is conflict minerals reporting still required?
Pursuant to Section 1502 of the Dodd-Frank Act of 2010, the SEC issued its conflict minerals rule in 2012, requiring reporting companies to report on their use and sourcing of tin, tantalum, tungsten and gold (3TG). The conflict minerals reporting template (CMRT) is available to all at no cost.
Who is required to file a conflict minerals report?
Per the SEC final rule, a company that is required to provide a conflict minerals report only is required to report on “the efforts to determine the mine or location of origin with the greatest possible specificity” for only those products/product categories that have not been described as “DRC conflict free.” …
What is a conflict mineral disclosure?
The legislation requires companies that report to the US Securities Exchange Commission (SEC) to disclose if any of the minerals used in their products have been sourced from the Democratic Republic of Congo or any of the adjoining countries, and to describe how they have verified this. …
What are the 5 conflict minerals?
“Conflict minerals,” as defined by the US legislation, currently include the metals tantalum, tin, tungsten and gold, which are the extracts of the minerals cassiterite, columbite-tantalite and wolframite, respectively. Downstream companies often refer to the extracts of these minerals as 3TG.
What is conflict minerals sourcing policy?
Sourcing Policy. “Conflict minerals”1 originating from the Democratic Republic of the Congo (DRC) are sometimes mined and sold, “under the control of armed groups”2, to “finance conflict characterized by extreme levels of violence”2.
Is your company required to file an annual conflict minerals disclosure with the SEC?
Under these regulations, publicly traded companies are required to submit an annual conflict minerals disclosure report by filing paperwork called a “Form SD” to the SEC. Whether conflict minerals are found or not, the company must also disclose its findings publicly on its website.
Which is the correct rule to rule to determine if it is a mineral or not?
Solid. Though minerals vary in shape, color, luster (the way a mineral reflects light) and hardness, all minerals are a solid at a given temperature. If a substance is not in its solid state, it is not currently a mineral. For example, ice is a mineral, but liquid water is not.
What is conflict minerals Reporting Template?
The Conflict Minerals Reporting Template (CMRT) is a free, standardized reporting template developed by the Responsible Minerals Initiative (RMI) that facilitates the transfer of information through the supply chain regarding mineral country of origin and the smelters and refiners being utilized.
Why are conflict minerals a problem?
Certain minerals (including tin, tantalum, tungsten and gold) have been linked with funding killings, violence, rape, and other human rights abuses in the Democratic Republic of Congo and other conflict zones.
What are conflict minerals examples?
Does Intel use conflict minerals?
Intel’s suppliers acquire and use conflict minerals from multiple sources worldwide. Provide, and expect our suppliers to cooperate in providing, due diligence information to confirm the tantalum, tin, tungsten, and gold in our supply-chain are “conflict free”2.
Where can I find more information about the conflict minerals request?
For more information about the Conflict Minerals request, please look through our Supplier Help Center or contact Assent Compliance under [email protected] Have more questions?
What is the Conflict Minerals Regulation (CMR)?
On 1 January 2021 a new law will come into full force across the EU – the Conflict Minerals Regulation. It aims to help stem the trade in four minerals – tin, tantalum, tungsten and gold – which sometimes finance armed conflict or are mined using forced labour. Which countries or areas are high-risk?
What are the conflict minerals under Section 1502?
Introduction. 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.
What is the RMI conflict minerals reporting template?
The RMI’s Conflict Minerals Reporting Template is a free, standardized reporting template developed by the Responsible Minerals Initiative that facilitates the transfer of information through the supply chain regarding mineral country of origin and smelters and refiners being utilized.
