What is the issue with conflict minerals?
Conflict minerals are resources that are mined and used to influence and finance armed conflict, human rights abuses, and violence.
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 are the 3 conflict minerals?
These conflict minerals are tin, tantalum, tungsten (the “3 T’s”) and gold which are mined in eastern Congo and are in all consumer electronics products, as well as products from the jewelry, automotive, aerospace, medical equipment, and many other industries.
What are the four main conflict minerals?
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, so it makes sense to focus on them.
What are the conflict minerals regulations?
What is the regulation and who is affected by it? The Conflict Minerals Regulation[i] 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.
What is the US doing about conflict minerals?
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.
Why are conflict minerals called conflict minerals?
Simply put, “conflict minerals” get their name because they are mined and sold by regions experiencing some type of conflict. It could be military, economic, etc. In these areas, countless human rights violations occur in the pursuit of valuable minerals.
What are conflict minerals and what are they used for?
Uses for 3TG Conflict Minerals Stores electricity and is used in alloys for its strength. Commonly used in tools, cell phones, and high-temperature situations, also used in alloys for its strength. Malleable, not highly corrosive, and highly conducive to electricity and heat.
Where are conflict minerals used?
Uses for 3TG Conflict Minerals Often used to coat other metals to prevent their corrosion and to create alloys. Stores electricity and is used in alloys for its strength. Commonly used in tools, cell phones, and high-temperature situations, also used in alloys for its strength.
What is conflict minerals declaration?
This document declares that some of International Light Technologies products contain one or more conflict minerals and that these minerals are necessary to the functionality of the products manufactured. This document certifies that all ILT products are declared “DRC conflict free”.
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 conflict minerals regulation?
The Conflict Minerals Regulation[i] 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.
What is the Conflict Minerals Regulation?
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.
What are the four minerals at risk of armed conflict?
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? Why does the EU promote the responsible sourcing of minerals among its companies? What does the new EU regulation do?
How can the EU tackle trade in conflict minerals?
As the world’s largest trading bloc, the EU is a major market, so the regulation marks a big step in tackling trade in conflict minerals. Countries around the world buy products containing these minerals, though, so it is important to encourage others to put in place similar measures as well.
What is Public Private Alliance for Responsible Minerals Trade?
In 2017, the State Department renewed the Public Private Alliance for Responsible Minerals Trade (PPA) for another five years. The PPA is a multi-sector and multi-stakeholder initiative that supports supply chain solutions to conflict minerals challenges in the Democratic Republic of Congo (DRC) and the Great Lakes Region (GLR) of Central Africa.