More and more countries or regions are in the process of implementing conflict mineral legislation aimed at controlling the use of conflict minerals. These minerals are essential in the production of a variety of electronic devices, but due to the complexity and confidentiality issues inherent in the conflict mineral supply chain, it is very hard for companies to complete due diligence.
The Dodd-Frank Act comprises conflict minerals reporting requirements for U.S. SEC (U.S. securities and exchange commission) registrants about the source of conflict minerals. TÜV Rheinland can help you comply with these requirements. Our conflict minerals solution service delivers advisory and assurance services for due diligence and management of conflict minerals within the supply chain of your company.
This tailored assessment ensures your compliance with the U.S. SEC and EICC-GeSI, LBMA and OECD. We can help you to answer customers’ inquiries and to reply to other stakeholder concerns.
Our audit and consulting team has extensive experience in developing systems and tools to manage risks in the minerals supply chain and to promote supply chain due diligence. With this consulting service by TÜV Rheinland you:
Please feel free to contact us at TÜV Rheinland to learn more about how our conflict minerals solution service can ensure your compliance with international market standards.
We offer a variety of services concerning due diligence and management of conflict minerals within supply chains, including:
Our conflict mineral assessment approach is built on our understanding of common concerns within the organizations involved in the use of conflict minerals. The focus is set on consistency with industry practices including the following:
Our conflict mineral assessment approach basically consists of the following steps:
The diagram shows our conflict mineral assessment approach at a glance.
Conflict minerals are mined in zones marked by crisis, armed conflict and human rights abuses. In the eastern Democratic Republic of Congo (DRC) for example, fighting driven by trade in valuable minerals has been ongoing now for almost fifteen years. The four most well-known conflict minerals codified in the U.S. Conflict Minerals Law are Tin (Cassiterite), Tungsten (Wolframite), Tantalite (Coltan) and Gold.
The Dodd-Frank Act originally known as Dodd-Frank Wall Street Reform and Consumer Protection Act was passed by the US Senate on May 20, 2010 and signed by President Barack Obama on July 21, 2010. This reform establishes conflict minerals reporting requirements and instructions for companies, especially in the electronic and automotive industry. Manufacturers are required to audit their supply chains and report conflict minerals usage.
Former Chairman Chris Dodd introduced the revised version of the planned bill in the Senate Banking Committee. Chairman Barney Frank of the Financial Services Committee was responsible for the House of Representatives. These two members of Congress thus gave the bill its name.