A new rule regarding so-called conflict minerals that is argued to be an important step towards ending violent conflict in the Democratic Republic of the Congo has created a due diligence quagmire for many companies. Which means its time for compliance professionals to add mineralogist to their resumes.
Under a final Conflict Minerals Rule passed by the Securities and Exchange Commission last month, public companies must disclose their use of conflict minerals (cassiterite,used to make tin; columbite-tantalite,from which tantalum is extracted; gold; and wolframite,used to produce tungsten; or their derivatives) originating in the DRC or an adjoining countryAngola, Burundi, Central African Republic, the Republic of the Congo, Rwanda, South Sudan, Tanzania, Uganda, and Zambia.