, The Guidance provides recommendations for responsible mineral supply chains to help companies to respect human rights and avoid contributing to conflict through their mineral or metal purchasing decisions . LG Electronics has a policy that conflict minerals contained in our products shall not be derived from sources that finance or benefit armed groups. In this regard, some of those commentators argued that the provision and/or rule could lead to a de facto boycott or embargo on conflict minerals from the Covered Countries, other of these commentators suggested that the Start Printed Page 56279 provision and/or rule could compel speech in a manner that violates the First Amendment, and at . The Conflict Minerals Rule requires certain companies to report annually to the SEC a description of measures taken . The EU Conflict Minerals policy largely draws from Dodd-Frank 1502 but also shows more determination to promote transparent and sustainable trade with more high-risk areas included, not just the DRC and covered countries. The OECD Guidelines for Multinational Enterprises are government-backed recommendations on responsible business conduct to encourage sustainable development and enduring social progress. This regulation requires EU importers of these metals and minerals (Gold, Tungsten . Responsible minerals The global minerals trade has funded abuses and armed conflict for decades. TTM's objective is for all of our products to be confirmed "DRC Conflict Free." Conflict Minerals are commonly extracted in a conflict zone and sold to perpetuate fighting amongst armed groups. To report concerns or violations of this policy, please contact MSC at 1-800-753-7972 (option 3) or conflictminerals@mscdirect.com. Our Conflict Minerals program is addressed in our Supplier Code of Conduct, our Global Suppliers Terms & Conditions and our purchase order requirements. 10. The Law. This cycle perpetuates war, regional instability, and human . modifies its list of conflict minerals or covered countries, the SEC Rule automatically follows suit. Lear must perform due diligence on, and make disclosures concerning its use of conflict minerals originating in the Democratic Republic of the Congo and adjoining countries. In 2020: 42% of companies initially determined that their conflict minerals may have come from the DRC or adjoining countries L.B. determining whether conflict minerals originated in the covered countries: under the final rule, a company that uses a conflict mineral is required to conduct a reasonable country of origin inquiry that must be performed in good faith and be reasonably designed to determine whether the conflict mineral originated in the covered countries or are The term conflict minerals, as defined by the EU Conflict Minerals Regulation, refers to the extraction of minerals that support, prolong, and cause conflicts in their originating countries.
The rules and regulations require us to determine the extent to which our products contain Conflict Minerals originating from the Democratic Republic of the Congo and certain adjoining countries ("Covered Countries") by analyzing the products we manufacture and the raw materials and components we purchasethrough supply chain due . Foster Company supports the humanitarian goal of ending violent conflict in the DRC and surrounding countries and is committed to avoiding the use of "Conflict Minerals" in our products. Conflict Minerals Regulation In politically unstable areas, armed groups often use forced labour to mine minerals. 1 "Conflict Minerals" include Columbite-Tantalite (Tantalum), Cassiterite (Tin), Gold, Wolframite (Tungsten) and any derivatives from these materials. Alfa Laval Conflict Minerals Policy Statement. The Responsible Minerals Initiative ("RMI"), of which TTM is a member, supports this endeavor by . Rebel groups, governments and mining companies exploit mineral resources, fuelling civil and interstate conflict as players vie for control over riches. With focus on the Automotive Group, we are asking direct suppliers to fill out the Conflict Minerals Reporting Template (CMRT) developed by the Responsible Minerals Initiative with detailed information on the smelting and mining operations in the countries where the minerals we use originate. Ref: Inquiries on - Conflict Metals or Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010: Section 1502 - Conflict Minerals ("Dodd-Frank Act"). Schlumberger recognizes that there are serious . Foster Company is committed to the highest standards of ethics and business conduct. These countries are: Sudan, Central Africa Republic, Uganda, Congo Republic, Angola, Tanzania, Rwanda, Burundi, Democratic Republic of Congo, Zambia and Angola. Conflict minerals are usually talked about in the context of the Democratic Republic of Congo (DRC), where a 20-year conflict between armed groups and the state has to mass murder, rape and other human rights violations. Finally, the market incorporates the information in CMDs. What are conflict minerals? For the purposes of the rule, conflict minerals include tantalum, tin, gold or tungsten. The conflict minerals reporting template (CMRT) is a free, standardized reporting template developed by the Responsible Minerals Initiative (RMI) and is considered the industry standard reporting template for conflict minerals compliance. Conflict materials by definition, are used to fund armed rebels and civil violence. While there are no changes expected at this time, if the State Department modifies its list of Conflict Minerals or covered countries, the SEC rule automatically follows suit. in the [Covered Countries]." 20 Products will be considered "DRC conflict free" if, when the conflict minerals . For many years, armed groups have fought to control mines within the DRC and smuggle minerals out of the region . The fight against conflict minerals became a prime example of what Teju Cole has called the " white-savior industrial complex "efforts that make activists in wealthy countries feel good but fail to consider "the idea that those who are being helped ought to be consulted over the matters that concern them." If asked, a petty trader might say she deplores how . Minerals Rule. The mine is now producing regular shipments and is viewed as the role model for establishing a secure supply of conflict-free minerals from the region. Four common conflict minerals, clockwise from top left: coltan, cassiterite, gold ore, and wolframite. Henkel Corporation RMI CMRT 6.21 (1.47 MB) Henkel undertakes due diligence to attempt to determine if any of the minerals contained in the raw materials we source for our products . 2.
Many are several layers removed from their suppliers and the original mines, with one company reporting in its 2019 filing that it had about 1,000 suppliers. This conflict has been exacerbated by various groups fighting to control . The EU regulation covers tin, tantalum, tungsten and gold because these are the four minerals that are most often linked to armed-conflicts and related human rights abuses. On December 17, 2020, the European Commission published the Indicative, non-exhaustive list of Conflict-Affected and High-Risk Areas under Regulation (EU) 2017/821. Flowserve will not knowingly procure raw conflict minerals from covered countries that are not deemed conflict-free from mines, smelters and refiners that produce the minerals used in our products. Conflict resources are natural resources extracted in a conflict zone and sold to perpetuate the fighting. The EU Regulation, as agreed by the EU Institutions, is set to ensure sustainable sourcing for more than 95% of all EU imports of tin, tantalum, tungsten and gold, and is covered by due diligence provisions as of 1 January 2021. It greatly expands the list of regions companies should prioritize for due diligence, due to known existing human rights issues. the conflict minerals rule requires heightened diligence and disclosure if, based on the registrant's reasonable country of origin inquiry, it knows that any of its necessary conflict minerals originated in a covered country and were not from recycled or scrap sources, or if it has reason to believe that any of its necessary conflict minerals may President and CEO. The intent of the provision is to deter through increased transparency of companies' sourcing practices the extreme violence and human rights violations in the Democratic Republic of Congo (DRC) and neighboring countries funded by the exploitation and trade of . Section 1502 on conflict minerals of the Dodd-Frank Wall Street Reform and Consumer Protection Act is a transparency measure, and one part of a comprehensive approach to Congo's challenges. "3TG"- means tungsten, tantalum, tin and gold- the four minerals currently covered under the Conflict Minerals Rule. The Office of Threat Finance Countermeasures, in conjunction with other State Department bureaus and U.S. agencies, actively works to end the use of certain "conflict" minerals to fund violent armed groups in the Democratic Republic of the Congo (DRC) through government-to-government diplomatic efforts.The office also builds international support for due diligence guidelines intended to . Accordingly, we fully support the goals and . . All Lear suppliers are required to respond to information requests from Lear regarding the uses and sources of conflict minerals (tin, tungsten, tantalum and gold) in their . On January 1, 2021, the EU Conflict Minerals Regulation took full effect. Nicolas Cook, "Section 1502: Conflict . A product is considered to be "DRC conflict free" if it "does not contain conflict minerals necessary to the functionality or production of that product that directly or indirectly finance or benefit armed groups . European Union Conflict Minerals Regulation. The 3TG minerals, along with the ores from which they originate, are known as conflict minerals* because it is believed that armed conflict, and related human rights abuses, in the Democratic Republic of the Congo (DRC) and adjoining countries (the DRC region) may be directly or indirectly financed by the trade in the 3TG minerals, which are mined . . There is both statistical and anecdotal evidence that the presence of precious commodities can prolong conflicts (a "resource curse"). The EU Regulation, as agreed by the EU Institutions, is set to ensure sustainable sourcing for more than 95% of all EU imports of tin, tantalum, tungsten and gold, and is covered by due diligence provisions as of 1 January 2021. State Department. The Conflict Minerals and covered countries in the rule align with those identified by the U .S. Commonly used for 4 minerals (3TG): Tungsten, Tantalum, Tin, and Gold that are mined in the eastern region of the Democratic Republic of the Congo (DRC). Passed in 2010 and implemented by the U.S. Securities and Exchange Commission in 2012, it creates a reporting requirement for all companies . As the last report from the UN highlights, "On 10 March 2011, the Government of the Democratic Republic of the Congo lifted its suspension of all artisanal mining activity in the provinces of . "Conflict Minerals" is the term used to describe certain minerals such as gold, wolframite, casserite, columbite-tantalite and their derivative metals, which include tin, tungsten and tantalum that are sourced from mines under the control of violent forces in the Democratic Republic of Congo (DRC) or the surrounding countries.