EU Reaches Landmark Agreement on Conflict Minerals Regulation
09 December 2016
The EU Institutions have reached an agreement on the final shape of an EU Regulation on conflict minerals, which aims to stop the financing of armed groups in developing countries through the trade of tin, tantalum, tungsten and gold. The Regulation, as agreed by the EU Institutions, is set to ensure sustainable sourcing for more than 95% of all EU imports of tin, tantalum, tungsten and gold (and their ores), which will be covered by due diligence provisions as of 1 January 2021. All but the smallest EU importers will have to do "due diligence" checks on their suppliers, and big manufacturers will also have to disclose how they plan to monitor their sources to comply with the rules.
Formally, the Regulation will now be adopted by the Council and the European Parliament.