What is SEC conflict minerals rule?

Pursuant to Section 1502 of the Dodd-Frank Act of 2010, the SEC issued its conflict minerals rule in 2012, requiring reporting companies to report on their use and sourcing of tin, tantalum, tungsten and gold (3TG).

Is your company required to file an annual conflict minerals disclosure with the SEC?

Form for and Timing of Disclosure: Under the final rule, the company is required to provide its conflict minerals disclosure in new Form SD. All affected companies will file the new form for the same period, a calendar year, regardless of their fiscal year end.

What is the Dodd-Frank Act conflict minerals?

The “conflict minerals” provision—commonly known as Section 1502 of the Dodd Frank Act—requires U.S. publicly-listed companies to check their supply chains for tin, tungsten, tantalum and gold, if they might originate in Congo or its neighbours, take steps to address any risks they find, and to report on their efforts …

What is Dodd Frank Section 1502?

Section 1502 of U.S. Dodd Frank Act requires U.S. listed companies to disclose whether they use “conflict minerals” (tin, tungsten, tantalum and gold) and whether these minerals originate in the Democratic Republic of the Congo (DRC) or an adjoining country.

Who needs to report conflict minerals?

Background. In 2010, Congress passed the Dodd-Frank Act, which directs the Commission to issue rules requiring certain companies to disclose their use of conflict minerals if those minerals are “necessary to the functionality or production of a product” manufactured by those companies.

What is conflict minerals compliance?

The conflict minerals regulation is a global standard for ethical sourcing. The conflict minerals reporting template (CMRT) is a free, standardized reporting template developed by the Responsible Minerals Initiative (RMI) and is considered the industry standard reporting template for conflict minerals compliance.

Is conflict minerals reporting still required?

Even though the no-action relief remains in effect, many companies have continued to conduct due diligence and file full conflict minerals reports with the SEC, given already implemented diligence processes, existing contractual obligations and the expectations of interested stakeholders.

What are 4 main conflict minerals?

The four metals, tin, tantalum, tungsten and gold are always defined as conflict minerals irrespective of their origin or if the mining has financed any armed groups or not.

What is conflict mineral compliance?

The RMI’s Conflict Minerals Reporting Template is a free, standardized reporting template developed by the Responsible Minerals Initiative that facilitates the transfer of information through the supply chain regarding mineral country of origin and smelters and refiners being utilized.

What makes a mineral a conflict mineral?

Conflict Minerals refer to raw materials or minerals that come from a particular part of the world where conflict is occurring and affects the mining and trading of those materials.