[wanabidii] Press Releases: Statement Concerning the Continued Importance of Due Diligence for Conflict Minerals Identified in Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act

You are subscribed to Press Releases for U.S. Department of State. This information has recently been updated, and is now available. Press Releases: Statement Concerning the Continued Importance of Due Diligence for Conflict Minerals Identified in Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act 05/26/2014 05:32 PM EDT Statement Concerning the Continued Importance of Due Diligence for Conflict Minerals Identified in Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act Media Note Office of the Spokesperson Washington, DC May 26, 2014 The Department of State recognizes recent progress in the Democratic Republic of the Congo (DRC) and Republic of Rwanda towards developing legitimate supply chains for the conflict minerals (gold, tin, tungsten, and tantalum, and their ores) identified in Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). However, exploitation of these minerals by armed groups continues to fuel conflict, pose a threat to peace and stability, and undermine efforts by the DRC authorities, the United States, and other international partners to end decades of strife in the African Great Lakes region. On Friday, May 2, 2014 the Securities and Exchange Commission (SEC) issued an order clarifying that companies are required to comply with most due diligence and reporting requirements related to conflict minerals from the DRC and adjacent countries under its rule implementing Section 1502. The Department welcomes the SEC action as a key step towards ending the illicit exploitation of the DRC’s minerals and establishing transparent, conflict-free production, processing, and export of these resources. The Department strongly encourages companies to continue conducting due diligence on their supply chains for these four minerals as required by law and the SEC guidance. Disclosure reports, pursuant to the SEC’s April 29, 2014 guidance, generate increased public confidence in companies’ due diligence efforts and significantly contribute to these important objectives. Developing a legitimate mining industry is critical to building an economic foundation for a sustainable peace in the eastern DRC and the African Great Lakes region, which is an essential component of U.S. policy in the region. The importance of this goal within the region itself is reflected in the Peace, Security and Cooperation Framework Agreement for the DRC signed by regional governments. It is also reflected in the call by the member states of the International Conference of the Great Lakes Region (ICGLR) to combat the illegal exploitation of minerals and their use to undermine peace and security. The Department appreciates the efforts of the many companies, industry associations, and civil society groups that have partnered to promote conflict-free sourcing for minerals from the African Great Lakes region and through commercial supply chains. Per its February 2013 guidance, the Department will continue to work constructively and pragmatically “to provide guidance to commercial entities seeking to exercise due diligence” on their mineral supply chains. For questions regarding this document, please contact Eileen Kane (Kaneeh@state.gov) or Ashley Orbach (orbacha@state.gov) in the Department of State’s Bureau of Economic and Business Affairs. The Office of Website Management, Bureau of Public Affairs, manages this site as a portal for information from the U.S. State Department. External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein. Stay connected with the State Department:   External links found in this content or on Department of State websites that go to other non-Department websites should not be construed as an endorsement of the views or privacy policies contained therein.  Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please visit subscriberhelp.govdelivery.com. This service is provided to you at no charge by U.S. Department of State. This email was sent to wanabidii@googlegroups.com using GovDelivery, on behalf of: U.S. Department of State · 2201 C Street NW · Washington, DC 20520

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