Tin, tantalum, tungsten and gold are the extracts of the minerals cassiterite, columbite-tantalite (Coltan) and wolframite and are known as conflict minerals or 3TG. Conflict minerals refer to minerals mined and sold in areas experiencing military or economic conflicts or human right abuses. These minerals are used widely in the production of electronic and automotive goods. Conflict minerals regulation is created to reduce trading in minerals from conflict zones and is applicable to those companies and individuals that need to purchase the minerals that fall under this category.
Conflict minerals regulation was included in the Dodd-Frank Act in 2010 to control the use of conflict materials in products. The act requires SEC (U.S. Securities and Exchange Commission) listed companies to disclose and determine whether they use conflict materials from the DRC (Democratic Republic of Congo) zone in any level of their supply chain. This helps companies to check if the imported minerals are from a responsible supply chain and not from a conflict zone. This regulation brings new challenges to businesses like having to deal with lack of proper documentation, which is critical in compliance assessments and declarations.
The suppliers are expected to deliver the required documentation for declaring their supplies are free of conflict minerals. Conflict Minerals regulation demands annual reporting; however, many suppliers fail to provide the necessary paper work. It is very hard for companies to complete due diligence because of the complexity and confidentiality in the conflict mineral supply chain. Our conflict minerals service offers support to clients to put a compliance program in place and also helps in collecting the required reports from suppliers.
We offer conflict mineral strategy consulting and audit services to help companies comply with their product requirements. Our team of experts can guide you in regulatory, supply chain and technical compliance requirements. Our conflict mineral services include:
Collecting and managing the compliance information can be a significant burden on companies. Our services include keeping you updated with the frequent change in regulations. Having a long-term business association with us also can assist you in answering customer inquiries and stakeholder concerns. Since more and more regions are in the process of implementing conflict mineral rules aimed at controlling the use of conflict minerals, it is essential to ensure that your products are put together only with conflict-free minerals.