“Name and Shame” Scheme for Conflict Minerals
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Read more here about a provision added to the Dodd-Frank Wall Street Reform and Consumer Protection Act that requires publicly traded companies to disclose in SEC filings whether their products contain “conflict minerals” and the potential impact on many industries.
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[...] The new regulations will require publicly traded companies to determine whether their products are derived from four minerals associated with the metals gold, tin, tungsten, and tantalum. These metals are widely used in electronics and a broad array of products, including jewelry, tools, engines, medical equipment, chemicals, packaging, and even ballpoint pens. If a company uses any of these metals, it must trace their origins through upstream supply sources to see whether any were mined in the Democratic Republic of the Congo or surrounding Central African countries. If they were, or if the possibility cannot be ruled out, the company must conduct extended diligence efforts, potentially including costly independent audits. More information is available here. [...]
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