Responsible Sourcing of Minerals from Conflict Zones: Is the EU Doing Enough?
May 15, 2014
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Anna Bulzomi
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On March 5, 2014, the European Commission released its long-awaited responsible tradingstrategy for minerals from conflict zones. The strategy is composed of a draft Regulation setting up an E.U. system of self-certification for importers of tin, tantalum, tungsten, and gold (3TG) and a Joint Communication presenting the overall comprehensive foreign policy approach on how to sever the link between conflict and the trade of minerals.The Regulation will now be examined by the E.U. Parliament and the Council, who will need to agree on a final text.
Unsurprisingly, the issue of conflict minerals is a pressing one at the E.U. level, with the Union being one of the largest markets for 3TG and currently accounting for 25% of the global trade in 3Ts and 15% in gold.