Conflict Minerals

April 13, 2017Kirsten Wallerstedt

Conflict minerals and responsible sourcing requirements have become an enduring part of doing business. Beyond the U.S. law, the EU has passed a conflict minerals regulation, private companies such as Apple and Google are independently dedicated to requiring responsible sourcing in their supply chains, and the U.S. has sanctions in...

February 17, 2017Kirsten Wallerstedt

On 24 January 2017, the European’s Parliamentary International Trade Committee (INTA) voted overwhelmingly to support the EU’s conflict minerals proposal, with a vote of 39 in support, none opposed, and two abstentions. The Regulation sets up a Union system for supply chain due diligence for importers of tin, tantalum and tungsten, their ores, and gold originating in conflict-affected and high-risk areas. The Regulation, if finalized, is expected to become enforceable on 1 January 2021.

June 17, 2016Kirsten Wallerstedt

On 16 June 2016, the European Union (EU) Commission, the Parliament and the Council reached an agreement on conflict minerals. EU firms importing tin, tungsten, tantalum, gold and their ores (3TG), including processed metals, will be required to do due diligence checks on their suppliers. The aim is to stop trade in 3TG which funds conflicts and human rights abuses around the world. The Commission will also develop incentives and voluntary supply chain due diligence reporting tools for downstream EU companies that use these metals and minerals as components in their products.

May 8, 2015Kirsten Wallerstedt

The June 1, 2015* due date is quickly approaching for year-two Form SD and Conflict Minerals Reports (CMRs) filings with the U.S. Securities and Exchange Commission (SEC). Here are some best practices and suggestions to keep in mind as you draft and finalize your public disclosure.

April 15, 2015Kirsten Wallerstedt

The European Parliament's Committee on International Trade (INTA) voted yesterday for a conflict minerals law in the EU that would impose mandatory obligations on smelters and refiners located in the EU. The proposal includes voluntary self-certification options for importers and downstream operators. The legislation now goes to the full Parliament...

September 9, 2014Kirsten Wallerstedt

As obliged under Section 1502(d)(3)(C) of the Dodd-Frank Act (Act), the U.S. Department of Commerce (Commerce) has compiled a list of “all known conflict mineral processing facilities worldwide.” The release of this list should assist companies that must comply with Section 1502 of the Dodd-Frank Act in identifying unique smelters of conflict minerals in their supply chains.

July 24, 2014Kirsten Wallerstedt

The existing Democratic Republic of the Congo (DRC) Sanctions were updated on 8 July 2014 due to a new Executive Order. US sanctions can now be used against a company’s actions or policies that threaten the peace, security, or stability of the DRC, including against any entity that is complicit in the “illicit trade in natural resources in the Democratic Republic of the Congo.” This may affect companies’ filings with the SEC under the conflict minerals law.

February 3, 2014Kirsten Wallerstedt

If your company has been relying on the “Undeterminable” designation to get you through the first two reporting periods – heads up. Your transition period may already be over, and you didn’t even realize it.

July 25, 2013Kirsten Wallerstedt

The D.C. District Court on 23 July 2013 denied the plaintiff’s challenges to the Conflict Minerals Rule. Therefore, the Rule as promulgated by the Securities and Exchange Commission (SEC) will remain in force.

April 4, 2013Kirsten Wallerstedt

The European Union and Canada may soon join the United States in requiring certain companies to perform due diligence to investigate whether minerals that are used in their products originated in conflict-affected or high-risk areas.