Conflict minerals legislation

Ondertitel:shooting at the wrong target… again

On January 1, 2021, the European Conflict Minerals Act came into force. It aims to regulate the trade in four minerals—tin, tantalum, tungsten, and gold, also known as 3TG—that are often sourced from conflict-affected countries where the profits may allow armed groups to finance their activities. The regulation aims to break the link between minerals and conflict by ensuring that European Union (EU)-based companies only import minerals from conflict-free sources. If companies import minerals from conflict regions, the law requires them to report where the minerals were mined, the location of processing and trade, and the taxes and fees that were paid. The legislation is expected to discourage 3TG importers from sourcing from artisanal mining sites in countries such as the Democratic Republic of Congo (DRC) either because they are associated with conflict, or because they are too informally organized to meet the reporting obligations. If that happens, this conflict minerals legislation will shoot at the wrong target. Again

Jaar van publicatie:2021

Trefwoorden:Newspaper/Magazine/blog article

Toegankelijkheid:Open