The Quest for Conflict Minerals Certification
With the forthcoming May 2014 conflict minerals reporting deadline, mines in the Democratic Republic of the Congo (DRC) are in a race against time to complete the mineral certification process. This must be completed to protect themselves form loosing the business of multinational companies that may stop purchasing minerals from the region that can not be credibly certified as conflict free. Companies are reforming their supply chains to avoid the negative effects of the conflict minerals trade in the DRC and to comply with Dodd-Frank 1502.
One component of the conflict mineral certification process is mine inspection and traceability, which gives the mines a rating of green, yellow or red, depending on how conflict free they are. There are 55 mines that have received a green status and their minerals will be the most sought after. In addition 500 mines have implemented a tracing system that tracks the minerals from mine to export. A regional database to track these minerals is currently in the developmental stage.
If multinational companies want to get ahold of this information they will have to perform their own due diligence which takes time. In Source Intelligence’s analytics platform all of this information is a key stroke away. Their analytics platform along with their Supplier Engagement Team, enables them to collect, verify and assess conflict minerals-related data and generate the required forms and reports needed to comply with the SEC's final rule. Knowing what is in your supply chain is key to being environmentally conscience.
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