Pressure mounts on conflict minerals rules
Aug 23, 2013 | 06:43 PM
| Everdeen Mason
NEW YORK As publicly traded companies rush to comply with new conflict minerals rules by next years deadline, some metal suppliers have reported being threatened with a loss of business if they dont 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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