What is the Conflict Minerals Report? Kumi, in partnership with RINA, was appointed by the European Commission (EC) to assess the alignment of supply chain due diligence schemes with the requirements of the EU Conflict Minerals Regulation. The EU regulation will require importers of 3TG to undertake due diligence in line with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas (OECD Guidance). The SEC rules define conflict minerals as 3TG metals, wherever extracted. In recent years, there has been increased attention on so-called "conflict minerals" and whether trade in them has fueled civil wars and violence. The Regulation was originally published in 2017 and applies to importers of "conflict minerals": tantalum, tin, tungsten and gold.
Conflict minerals are minerals mined in conditions of armed conflict and human rights abuses, and . The conflict minerals regulation is a global standard for ethical sourcing. The rules apply to Issuers: That file reports with the SEC (Publicly traded companies). 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. The implementation of the Conflict Mineral Regulation has not improved the situation in places where rebel groups control mining areas. Conflict Minerals Regulations Under the Biden Administration.
Section 1502 of U.S. Dodd Frank Act: the landmark US law requiring responsible minerals sourcing. On 17 May 2017, a new regulation on supply chain due diligence was published in the European Union's Official Journal. The Conflict Minerals Regulation will affect the trade and production of tin, tantalum, tungsten, and gold in as well as outside the EU.
However, a lack of enforcement weakened the regulation. The Office of Threat Finance Countermeasures, in conjunction with other State Department bureaus and U.S. agencies, actively works to sever the links between mineral resources and conflict through government-to-government diplomatic efforts. Thus, in 2020, 44% of investigated companies were unable to make a final . This policy note offers a comparison
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. This Regulation, by controlling trade in minerals from conflict areas, is one of the ways of eliminating the financing of armed groups. This study investigates the impact of conflict minerals regulation on the interests and behaviors of actors related to conflict minerals trade in the eastern Democratic Republic of Congo (DRC), including the DRC government, the governments of neighboring countries, Western governments, conflict actors (such as armed groups and military forces), companies, and international aid . 1. Introduction. Final Text of the EU Conflict Minerals Regulation. Guidance and regulation.
Conflict Minerals Regulation was amended by Delegated Regulation (EU) 2020/1588 of 25 June 2020, which set the threshold amounts of several of the listed minerals and metals. The EU passed a Regulation on Conflict Minerals ("the Regulation") back in 2017 and its requirements will finally begin to apply to importers of covered minerals as of 1 January 2021. 2017/821, in Germany by the Supply Chain Due Diligence Act of 16 June . Division of Corporation Finance Conflict Minerals Disclosure A Small Entity Compliance Guide 1 Introduction. One of the most visible impacts from the COVID-19 pandemic has been the vulnerability of global supply chains.
Section 1502 of the Act amends the Securities and Exchange Act of 1934 to add Section 13 (p). On August 22, 2012, the Securities and Exchange Commission ("SEC") adopted a new rule and form, as mandated by Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"), to require companies to publicly disclose their use of conflict . Examples of these include: Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act; European Union Conflict Minerals Regulation; Massachusetts, Maryland and California state-level . A Conflict Minerals Regulation That Works (February 2015) [EN] The European Commission agreed to act, but the proposed law would have been entirely voluntary and apply only to a handful of companies. EU Regulation on Conflict Minerals differentiates upstream and downstream companies and expects compliance at different levels or requirements. Conflict Minerals Regulation. ai_phone 877.916.6337 headset_mic Help and Support . Sections 1.01 (a) and 1.01 (b) are still in effect and remain unchanged. The law also supports the development of local communities. As required by the Dodd-Frank Wall Street Reform Act, the U.S. Securities and Exchange Commission has required publicly traded companies to disclose whether they use "conflict minerals" (tantalum, tin, gold and tungsten, or "3TG") that have originated in the Democratic Republic of the Congo or adjoining countries. The European Union's new conflict minerals regulation is due to come into force on 1 January 2021, almost four years after the text of the legislation was published in May 2017. The requested document has been opened in the appropriate software.
Thus, in 2020, 44% of investigated companies were unable to make a final . Profits from extracting conflict minerals are used to purchase weapons and pay combatants. Below are highlights from the final rules to implement the Conflict Minerals section. Amongst the various initiatives taken by the EU, this one is extremely critical as it addresses the persistent issue of reducing mineral sourcing from politically unstable countries. Global Witness defines conflict resources as "natural resources whose systematic exploitation and trade in a context of conflict contribute to, benefit from or result in the commission of serious violations of human rights, violations of international . Ostensibly, the new Regulation aims to boost corporate transparency and encourage companies to embrace a more sustainable approach to sourcing four key metals . The regulations apply to minerals and metals of: Tin.
Companies that practise due diligence first check how risky it is to source raw materials from a fragile or conflict-affected area. For the minerals which the regulation covers, this means companies must check that what they buy is sourced responsibly and does not contribute to conflict or other related illegal activities. On August 22, 2012, the final rule regarding sourcing of conflict minerals under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("the Dodd-Frank Act") was approved by the U.S. Securities and Exchange Commission ("SEC"). technology companies will not be obliged to monitor, track or otherwise act to remove the . This regulation could leverage the overall due diligence of upstream and downstream industries on raw material sourcing. The trade in natural resources finances conflict and human rights abuses all over the world.
But tracing the source of these minerals is an immensely . Conflict Minerals Regulation. , 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 . Affected companies still need to perform the Reasonable Country of . The . This cycle perpetuates war, regional instability, and human . Detailed guidance, regulations and rules. In March of 2017, the European commission adopted new laws regulating mineral imports coming from conflict affected areas, called conflict minerals regulations. The European Conflict Minerals Regulation, also called the Regulation on Responsible Sourcing of Minerals, entered into full force on January 1st, 2021. The Dodd-Frank Wall Street Reform and Consumer Protection Act was legislated in 2010, regulating nearly every aspect of the country's financial sector. The regulation was previously approved by the EU Parliament and follows on the November 22, 2016 political agreement reached by the Parliament and the Council. It requires EU companies to ensure they import these minerals and . European Union Conflict Minerals Regulation. New research on the unintended consequences of conflict-mineral regulation.
Congress enacted Section 1502 of the Act 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. The EU's Conflict Minerals Regulation to impact supply chains for trade of the 3TG. Regulated in the European Union by Regulation (EC) No. 1. From 1 January 2021, the Conflict Minerals Regulation will enter into force. Import regulations Security issues & conflict zones: General Supply chains European Union OECD Lawsuits & regulatory action: General Conflict & Peace Conflict Minerals Read more "The battle for stronger EU conflict minerals legislation", 4 February 2020. These minerals are found in numerous parts used to produce automotive, aerospace, construction, and industrial machinery, medical and dental equipment, and the . The regulation requires all importers to the EU of any of these four elements in quantities of over 1000 kg per . The impact of these changes to the rule are limited. How this will impact different market participants will be explained here. Key compliance checks such as sanity check,cross-referencing between 3TG and Smelter Details are completed within minutes. Forced labor and child labor are common, as are violence, corruption and .
The amendment came into effect in November 2020. Conflict . On January 1st 2021 a new law came into full force across the EU - the Conflict Minerals Regulation (EU) No.  would have required U.S. and certain foreign companies to report and make public their use of so-called "conflict minerals" from the Democratic Republic of the Congo or adjoining . The office also builds international support for due diligence guidelines intended to help industry develop a responsible minerals trade from conflict . The EU's new conflict minerals Regulation ( EU 2017/821) is due to come into force on 1 January 2021, almost four years after the text of the legislation was published in May 2017. Minerals such as tin, tantalum, tungsten, gold and cobalt are used in vital components in IT products and are categorized as conflict minerals since they are connected to armed conflicts and human rights abuses in the regions of the world where they are extracted. A new EU law to stem the trade in conflict minerals. Source Intelligence Conflict Minerals Compliance Solution. Use conflict minerals o Conflict minerals include Cassiterite (tin, tin alloy, solder), Columbite-Tantalite By now, each EU Member State should have set up a Competent Authority and specified the rules of surveillance of implementation at national level. The Conflict Minerals Regulation will apply as of January 1, 2021 for importers of minerals and metals into the EU.
2017/821 - which aims to control the trade in tin, tantalum, tungsten and gold (3TG). For decades the trade in minerals, precious stones, and other commodities has played a central role in fuelling some of the world's most brutal conflicts . In 2017, the Trump administration threatened to suspend the US Security and Exchange Commission's (SEC) Conflict Minerals Rule. The EU regulation covers more forms of minerals and metals and has a much broader geographic focus than the US . The implementation of the Conflict Mineral Regulation has not improved the situation in places where rebel groups control mining areas. However, the implementation progress varies greatly from one country to another. On 24 January 2017, the European Parliament's Committee on International Trade (INTA) approved the final compromise text of the EU's long awaited Conflict Minerals Regulation. It will help to restrict trade in four minerals (tin, tantalum, tungsten and gold) from conflict or high-risk areas, which sometimes finance armed conflicts or are mined in forced labour. Dominic Parker. There is some overlap between the regulations, as all are informed to some extent by the OECD guidance. The EU conflict minerals regulation is expected to cover over 1,000 Union importers and will indirectly impact tens of thousands of economic actors in the European Union - many more than are covered by the US conflict minerals rule. NEW REPORT SHOWS DIVERGING IMPLEMENTATION AT EU MEMBER STATES' LEVEL. Through the discussions, I learned where the region stands on promoting transparency and good governance in the artisanal and small-scale mining sectors, and the . In response, a group of NGOs, including Global Witness, made the case for a strong and binding law that would cover the whole supply chain, from . Act, Section 1502 (HR4173). The EU Conflict Minerals Regulation, which will apply . The minerals are essential components of mobile . Then, on January 1, 2021, the rest of the provisions of the EU Conflict Although they hold great potential for development, natural mineral resources can, in conf lict-affected or high- r isk areas, be a cause of dispute where . This paves the way for the text to be formally adopted by the EU institutions in the coming months, with the . Conflict Minerals or Conflict Policies? In the SEC rule, "DRC conflict-free" is defined as minerals that were extracted and did not directly or indirectly benefit armed groups in the covered countries.
In 2017, the EU adopted its own law concerning conflict minerals, Regulation (EU) 2017/821. The situation in the EU. For example, tin extracted in Canada, Russia or Argentina is considered a conflict mineral by definition. National Law Review says the biggest difference between U.S. conflict mineral laws and the new EU regulation lies in the fact that Section 1502 (the U.S. version) applies strictly to minerals mined and refined in the Democratic Republic of the Congo. Increased global coordination could also strengthen the effectiveness of regulations: outside the United States, the Organisation for Economic Co-operation and Development produced a due diligence guidance for responsible mineral supply chains, and a new conflict minerals regulation will take effect in the European Union in 2021. It defines these as: end of 2017. areas in a state of armed conflict, or fragile post-conflict areas, or areas with weak or non-existent The Regulation came into force in January 2021 and requires importers of tin, tantalum, tungsten and . 2 May 2021. Rather than prohibiting gold imports from certain areas, the Regulation requires companies importing conflict minerals into the EU to . Global Conflict Mineral Regulations.
"Since that date," Smyth continues, "European Union based companies that . A new EU regulation on conflict materials will come into force on 01.01.2021.
The new Conflict Minerals Regulation (EU 2017/821) that took effect on January 1, 2021, obliges EU importers to ensure that 3TG metals are sourced from conflict-free regions. The EU conflict minerals regulation is expected to cover over 1,000 Union importers and will indirectly impact tens of thousands of economic actors in the European Union - many more than are covered by the US conflict minerals rule. The EU Regulation generally will require importers of tin, tantalum, tungsten and gold ("3TG" or "conflict minerals") into the European Union to establish management systems to support due diligence, conduct due diligence and make disclosures concerning the 3TG that . July 13, 2018. Software not only saves significant time and cost but also greatly improves the accuracy of the data. The rule remained in place, despite the administration's discussion of possible elimination.
This study investigates the impact of conflict minerals regulation on the interests and behaviors of actors related to conflict minerals trade in the eastern Democratic Republic of Congo (DRC), including the DRC government, the governments of neighboring countries, Western governments, conflict actors (such as armed groups and military forces), companies, and international aid . . "The EU Conflict Minerals Regulation expands that scope," it points out, "to cover . Corporations are now seen to have a social liability . 3TG is a shortened catch-phrase referring to the red-flag minerals of tungsten, tantalum, tin, and gold, which are frequently mined in or around the conflict region of the DRC. The New EU Conflict Minerals Regulation. Paving the way for the EU regulation in May 2017, the European .
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. The statement announced that the SEC will halt enforcement of Section 1.01 (c) of the conflict minerals rule due to "regulatory uncertainties.". To ensure businesses are sourcing conflict-free minerals, there are two main regulations in place: US Dodd-Frank 1502 and EU Conflict Minerals. AutoGen CM is an automation software that simplifies the Conflict Minerals Reporting process. The new regulation was approved today by the European Parliament and will next go before the European Council.
The OECD Guidelines for Multinational Enterprises are government-backed recommendations on responsible business conduct to encourage sustainable development and enduring social progress. This requires listed US companies and their suppliers to ensure that no conflict minerals, such as cassiterite (tin), coltan (tantalum), wolframite (tungsten) or gold, enter their supply chain. The European Union Conflict Minerals Regulation goes into effect on January 1, 2021, obliging EU importers of tin, tantalum, tungsten and gold (3TG) to source their minerals . A guidance document summarizing required and voluntary aspects of the regulation, and highlighted available tools and resources to help companies meet their obligations. The three main pieces of conflict minerals regulation in the world today are the US' Dodd-Frank Act; the EU's Conflict Minerals Regulation; and China's Conflict Mineral Standard. These both require different levels of tracing conflict minerals throughout the supply chain, gathering smelter data, and compiling reports. The EU regulation covers more forms of minerals and metals and has a much broader geographic focus than the US . Tin, tantalum, tungsten and gold are used in the fabrication of many high-tech .
The EU Conflict Minerals Regulation (2017) goes a step further by addressing the concept of corporate social liability and the risk of harm. The regulation covers tin, tantalum, tungsten and gold (3TGs) sourced from the Democratic Republic of the Congo (DRC) and adjoining countries, though it also addresses minerals sourced from other high-risk areas. The EU conflict minerals regulation, which places mandatory obligations on importers of 3TG but not product manufacturers and sellers, takes effect on January 1, 2021. Tungsten. The European Union's (EU) upcoming Conflict Minerals Regulation will come into force in January 2021 to clamp down on the mining of 3TG minerals (tin, tantalum, tungsten and gold) used to fund fighting in "conflict-affected and high-risk areas". I recently returned from a trip to Kigali, Rwanda, where I attended a regional conference on mineral certificationan effort to create responsible supply chains for "conflict minerals" mined from the African Great Lakes Region. This is a redirection page. In "2021: a new year marked by new rules against conflict minerals in the EU," Agathe Smyth writes about how Jan. 1, 2021 marked the culmination of a long civil society campaign as new European legislation on the responsible sourcing of minerals came into force. The U.S. Securities and Exchange Commission (SEC) draft regulations to implement the Conflict Mineral Law, published in the Federal Register of December 23, 2010. The Union's foreign and development policy action also contributes to fighting local corruption, to the strengthening of borders and to providing training for local populations and their representatives in . Conflict minerals are resources that are mined and used to influence and finance armed conflict, human rights abuses, and violence. Regulation (EU) 2017/821 of the European Parliament and of the Council of 17 May 2017 laying down supply chain due diligence obligations for Union impor ters of tin, tant alum and . The EU Conflict Minerals Regulation - relevance for China and for more sustainable mineral supply chains Posted: Dec 07, 2020 . The European Conflict Minerals Regulation entered into full force on January 1, 2021, following its approval in 2017.
These new regulations go into effect and apply across the EU on January 1 st 2021, only a few months from now. The EU Conflict Minerals regulation means that selected EU importers of the respective minerals (also referred to as '3TG') need to comply with, and report on, supply chain due diligence obligations if the minerals originate (even potentially) from conflict-affected and high-risk areas. The Conflict Minerals Regulation requires EU-based importers of tin, tantalum, tungsten and gold (also referred to as "3TG") to ensure their minerals are sourced responsibly and that their supply chains do not help to fund armed conflict or other illegal practices. The implementation of the Directive started as voluntary regulation in 2017 and entered into force as mandatory in January 2021. The law is often referred to as the 'EU Regulation on Conflict Minerals' by civil society, companies and public officers. As of January 1st 2021, a new law - the Conflict Minerals regulation, will be applicable across the European Union (EU). The EU's new Conflict Minerals Regulation.
The Conflict Minerals Regulation applies to Union importers of tin, tungsten, tantalum and gold, both as minerals and as metals containing these elements, provided certain annual volume thresholds . Conflict Minerals Regulation What it means for you 3 For everyone involved in the trade in tin, tantalum and tungsten and gold The EU regulation focuses on conflict-affected or high-risk areas. It touches on the consumer market, puts strain on logistics and other service providers, and more . January 1st, 2021 won't just be the beginning . The proposed regulations provided the following guidance: we would consider conflict minerals "recycled" that are reclaimed end-user or post-consumer products, but we would not consider those minerals "recycled" if they are partially processed, unprocessed, or a byproduct from another ore Issuers whose conflict minerals There are various regulations that require in-scope companies to report on their use of conflict minerals. The law is often referred to as the 'EU Regulation on Conflict Minerals' by civil society, companies and public officers.
For in-scope importers, obligations span establishing suitable management . Research and statistics. One of the major reforms included Section 1502, which requires all publicly traded companies in the USA to investigate and report on the use of conflict minerals throughout their supply chain. In 2017, the European Parliament approved a Regulation laying down due diligence obligations for European importers of minerals and ores of tin, tungsten, tantalum and gold (3TG).Responding to calls from civil society groups, communities and faith leaders, the Regulation was an attempt to disrupt the link between conflict . The implementation of the Directive started as voluntary regulation in 2017 and entered into force as mandatory in January 2021. To assess their supply chain, companies have to follow a 5-step framework as laid out by . On 1 January 2021 the ' Regulation (EU) 2017/821 laying down supply chain due diligence obligations for Union importers of tin, tantalum and tungsten, their ores, and gold (3TGs) originating from conflict-affected and high-risk areas' (CAHRAs) came into force.
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