Thursday, October 18, 2012

The Conflict Mineral Curse

This from press accounts regarding the leaked Group of Experts report, which I have not yet seen:

But profits by armed groups from trade in tin, tungsten and tantalum have been dented by a 2010 U.S. law requiring companies to disclose if they use minerals from the Congo. The U.S. Securities and Exchange Commission approved guidelines in August to enforce the conflict minerals law.
Companies need to conduct a due diligence check to track minerals through the supply chain to their origins to identify if any conflict minerals were used in their products.
The 44-page report by the U.N. Security Council's Group of Experts - a panel monitoring compliance with U.N. sanctions and an arms embargo for Congo - said those profiting from the conflict mineral trade had easily adapted to the drop in price for some resources by shifting their focus to gold.

Let me remind you of this, particularly items 3 & 4.

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