Draft Regulation to be published on the OJ
04 April 2017
Following the European Parliament green light in March, yesterday the Agri food Council has approved the draft EU Regulation on conflict minerals. The Regulation entails mandatory reporting for smelters and refiners (upstream industries) of tin, tantalum and tungsten (3Ts) and gold as well as for most importers while downstream industries are exempted from mandatory reporting. The European Commission is developing guidelines and tools, including Key Performance Indicators, in order to encourage voluntary reporting for downstream companies that employ more than 500 people, in accordance with the non-financial reporting Directive. The Regulation will fully apply as of 1 January 2021. The Regulation will be soon be officially signed (possibly in May) and then published on the Official Journal.