Conflict Minerals: EU: Conflict Minerals Agreement Reached as Exemptions Added

Nov 28, 2016 | Weekend Post
View Original

The European Union (EU) this week took a positive, but half-hearted, step towards cleaning up Europe’s trade in minerals. EU legislators concluded their negotiations on a new law on so-called ‘conflict minerals’—a Regulation which is meant to ensure that minerals entering the EU do not finance conflict or human rights violations. Certain EU companies will, for the first time, be legally required to take responsibility for their mineral supply chains and to take steps to prevent their trade being linked to conflict or human rights abuses. 

However, a string of concessions and last-minute loopholes could undermine the Regulation’s impact, as they exempt a large number of companies from the law.