VIEWS: 3 PAGES: 3 CATEGORY: Engineering & Energy POSTED ON: 5/30/2012
According to the SEC, Section 1502 mandates that persons "disclose annually whether any conflict minerals that are necessary to the functionality or production of a product of the person, as defined in the provision, originated in the Democratic Republic of the Congo or an adjoining country and, if so, to provide a report describing, among other matters, the measures taken to exercise due diligence on the source and chain of custody of those minerals, which must include an independent private sector audit of the report that is certified by the person filing the report." A State Department official explains that Section 1502 represents an important element of a wide range of efforts undertaken by the United States and the international community to stop the illicit trade in conflict minerals and that the agency is looking forward to the issuance of the final regulations implementing that provision of law.
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