Wednesday, April 22, 2015

U.S. companies failed to report Africa conflict minerals: report

A trader holds a four carat diamond worth about US$8,000 in the town of Koidu in eastern Sierra LeoneBy Sarah N. Lynch WASHINGTON (Reuters) - Nearly 80 percent of American companies surveyed by two human rights groups failed to meet a U.S. rule requiring they monitor whether their products contain minerals from war-torn Africa. The joint report by Amnesty International and Global Witness is the first by outside groups to analyze so-called "conflict mineral" disclosures by U.S. public companies complying with the Securities and Exchange Commission rule. “The conflict minerals law is an opportunity to clean up global mineral supply chains. The survey of 100 companies found that 79 percent of them failed to meet all the minimum requirements, and 41 percent to show they had policies to identify risks in their supply chain.




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