On 5 March 2014, the Commission proposed a regulation to develop an integrated EU approach for the responsible sourcing of conflict minerals. The proposed regulation will now have to be approved by the European Parliament and the Council.
Key features of the regulation include:
- Establishment of a voluntary, supply chain due diligence and self-certification procedure for importers of tin, tantalum and tungsten, their ores, and gold originating in conflicted-affected and high-risk areas.
- Importers who opt into this self-certification procedure will need to implement the Organisation for Economic Cooperation and Development ("OECD") Due Diligence Guidance, provide audit assurances and disclose information to competent authorities in the Member States.
- The EU will use the disclosed information to issue, in consultation with the OECD, a list of smelters and refiners that are considered responsible suppliers. The list will be updated annually and will specifically identify smelters and refiners that source responsibly from conflict zones so as to incentivise legitimate trade and minimise the risk of EU companies financing armed groups.
The Commission is also proposing accompanying measures to further encourage the responsible sourcing of minerals. These include providing financial support to EU importers that elect to self-certify and to organisations promoting transparency and due diligence practices among smelters and refiners, and initiating policy dialogues with third countries and other stakeholders.
The proposed regulation is available at: http://trade.ec.europa.eu/doclib/docs/2014/march/tradoc_152227.pdf
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