How to Ensure That You Are in Compliance with New EU Due Diligence Regulations

Nov 18, 2016 | Source Intelligence
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In a recent decision, the European Union reported it reached an agreement concerning how it will regulate conflict minerals. The new guidelines set forth will require that companies who are involved in the importing of tin, tungsten, tantalum and gold (3TG) perform their due diligence to ensure that the minerals they purchase are not from conflict/high-risk sources.

The purpose of these new regulations is to break the ties connecting the trade of minerals with certain problematic means of harvesting them. As of now, a portion of some mineral trade finances goes towards violence and slavery in certain susceptible parts of the world. By requiring companies to ensure their minerals are not from conflict resources, the global impact of conflicts (due to funding by the minerals trade) will drastically decrease, according to the EU.  The goal is to end human rights violations which are occurring to those being forced to mine the minerals that many companies use in their products.