Pressure mounts on conflict minerals rules

Aug 23, 2013 | 06:43 PM | Everdeen Mason

Tags  conflict-free smelting, conflict minerals, tin, tungstun, tantalum, gold, Rich Goode, service centers Everdeen Mason

NEW YORK —As publicly traded companies rush to comply with new conflict minerals rules by next year’s deadline, some metal suppliers have reported being threatened with a loss of business if they don’t complete the paperwork in a timely fashion.

Copper and brass service centers, tin foundries and tin alloyers told AMM that surveys and requests for declarations regarding the sourcing of material being supplied have come pouring in recently.
In a rule adopted last August, the U.S. Securities and Exchange Commission (SEC) requires publicly reporting companies to establish if minerals in their products are sourced from the Democratic Republic of the Congo or adjoining countries (amm.com, Aug. 23). If so, the companies must make a “reasonable” effort to determine whether the purchase of these minerals is funding armed groups in the country. The legislation applies to tin, tantalum, gold and tungsten. ....





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