October 31, 2014 – November 7, 2014
The summaries provided in this Weekly Recap do not necessarily represent the views of Squire Patton Boggs (US) LLP and should not be deemed to be endorsements of them. The Recap is intended to be a compilation of articles and events to encourage discussion within the conflict minerals community and to keep our readers updated on the most recent developments.
Global Witness Releases White Paper About Chinese Guidelines Concerning Conflict Minerals
The Chinese Chamber of Commerce for Minerals, Metals, and Chemical Importers and Exporters (CCCMC), in conjunction with the German development agency GIZ, recently published guidelines for its member companies operating overseas.
Global Witness, a non-governmental organization, published a white paper that, among other things, summarizes the guidelines.
The guidelines provide that member companies should:
- Conduct an assessment to define whether the mining project from which traded minerals originate or the mineral trading routes used are located in a conflict-affected and/or high-risk area.
- Adapt existing due diligence measures to the specific needs of conflict-affected and/or high-risk areas. Measures should be audited by a third-party and publicly reported.
- When operating in a conflict-affected and/or high-risk area, take steps to monitor the business relations, transactions, and flows of funds and resources and avoid the trade of conflict minerals.
It is important to note that the guidelines only apply to the CCCMC members and can be undertaken on a voluntary basis.
The CCCMC is affiliated with the Chinese Ministry of Commerce.
Opinion: African Archbishop Calls on European Parliament to Make Proposed Conflict Minerals Regulation Binding, Among Other Things
Mgr François-Xavier Maroy Rusengo, an Archbishop of Bukavu and President of the Provincial Assembly of Bishops of Bukavu and Kindu, drafted an opinion editorial which was published by EurActiv.com.
In the opinion editorial, Mgr François-Xavier Maroy Rusengo, calls for three (3) amendments to the proposed EU regulation:
- Include companies located in the downstream portion of the supply chain in the scope of the regulation, not just importers as currently drafted.
- Broaden the scope of the definition of conflict minerals to include all natural resources, not just the 3TGs as currently contemplated.
- Amend the proposed regulation to make binding on companies.