CONFLICT MINERALS

Some of you may have heard of a so called ‘Conflict Minerals Declaration’. What are these conflict minerals and to which extent is a declaration necessary?

The term ‘Conflict Minerals’ refers to raw materials that come from a particular part of the world where conflict (war) is occurring.

In 2010, President Obama signed the ‘Dodd-Frank Consumer Protection Act’ into law. Section 1502 of that act addresses the international trade and use of ‘Conflict Minerals’ defined as columbite-tantalite, also known as coltan (from which tantalum is derived); cassiterite (tin); gold; wolframite (tungsten); or their derivatives; or any other mineral or its derivatives determined by the Secretary of State to be financing conflict in the Democratic Republic of the Congo or an adjoining country.

Section 1502 instructs the U.S. Securities and Exchange Commission (SEC), in consultation with the U.S. Department of State, to promulgate regulations requiring certain companies to submit annually a description of measures taken to exercise due diligence on the source and chain of custody of Conflict Minerals (for additional info please visit this page)

RuB rejects any war and conflict and supports fair trade;  compliance with Dodd-Frank-Regulation is fulfilled , the Conflict Minerals declaration can be downloaded from here.