Waving EU flags in front of European Commission in Brussels

On 15 June 2016, EU institutions agreed on a framework for an EU Regulation designed to ensure that minerals entering the EU have been sourced responsibly and without funding conflict and human rights abuses.  This will build upon the OECD Due Diligence Guidance for responsible mineral sourcing (available here).

The proposed Regulation will apply to the vast majority of metals and minerals imported to the EU will be covered, although small volume importers will be exempted.  The agreed framework carries obligations for the upstream part of the conflict minerals supply chain to source raw metals and raw minerals responsibly and to check the origin of materials they buy.  The Commission will carry out additional measures (e.g., develop reporting tools) to strengthen due diligence by large and smaller EU downstream companies using such metals and minerals as components in goods.

Negotiations on technical implementation are expected to last several months.

Previous articleRecent Developments in the Banking Sector and AML in Kuwait
Next articleUS Supreme Court Clarifies Scope of False Claims Act Liability