Scrap avoids ‘conflict mineral’ label

Aug 22, 2012 | 04:21 PM | Catherine Ngai

Tags  SEC, Mary Schapiro, Tom Danjczek, SMA, conflict minerals, Congo, catherine ngai

NEW YORK — Users of recycled and scrap metals likely will not be affected by a federal mandate that requires certain companies to disclose the origins of "conflict minerals" used in manufactured products.

The rule, which passed by a 3-2 vote during a U.S. Securities and Exchange Commission (SEC) meeting Wednesday, aims to stop armed groups in the Democratic Republic of Congo from using profits from the trade of minerals—such as tantalum, tin, gold and tungsten—to fund their fighting, and requires companies to disclose the origins of minerals used in their manufacturing processes.....

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