BBC News - Can conflict minerals really be controlled?.
Materials used in mobile phones will be affected by the new law from 1 April
Materials used in mobile phones will be affected by the new law from 1 April
The Dodd-Frank Wall Street Reform Act signed by President Obama in August 2010 will have implications beyond the canyons of Manhattan and the wider US.
This law is not just about making America's financial systems safer - it stretches thousands of kilometres to the Democratic Republic of Congo.
Coming into effect on 1 April, it forces any manufacturer subject to US regulation to report on how it sources its so-called conflict minerals - such as cassiserite, coltan and wolfranite, which are mined in the DRC and widely used in mobile phones and laptops.
But how prepared are these countries to comply with the US ruling, and how easy will it be for US companies to trace the ultimate source of the minerals they buy?
I'm am interested to see how much trickle down there will actually be as a result of the signing of the Dodd Frank act on the extraction of conflict minerals. The portions that address conflict minerals seem to be the smaller part of a bill who's major intentions are to regulate the financial players tho fell in the "too big to fail" bucket and ended up contributing significantly to the credit crisis of 2008. In the summary of the bill there was little detail on what the required "due diligence" on the sources of these minerals will be. I am also unclear as to what results are acceptable or unacceptable or if there are any corrective actions that would need to be taken if a supply chain was deemed unacceptable. It is an added benefit to have this bill exert some pressure on the improper provision of these resources. I hope that this translates into progress in-country around the collection of resources without discouraging buyers away from these countries. Should buyers shift their interests to other counties providing similar resources it may be difficult for countries like the DRC to grow.
Posted by: Jacqueline | May 03, 2011 at 05:04 PM
Conflict minerals are minerals mined in conditions of armed conflict and human rights abuses, notably in the eastern provinces of the Democratic Republic of the Congo, by the Congolese National Army and various armed rebel groups, including the Democratic Forces for the Liberation of Rwanda.
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Posted by: Sehar Sadia | May 13, 2011 at 03:36 AM