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Conflict Minerals

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Conflict minerals

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In accordance with the policies and regulations to regulate conflict minerals to make our planet more peaceful

Definition of conflict minerals and the rationale for their regulation

Regulations on conflict minerals are in place in order to help reduce violence and exploitation in conflict-prone areas and to raise awareness and visibility of conflict materials among consumers by preventing rebel forces from benefiting from the trading of four specific minerals – columbite-tantalite, cassiterite, wolframite and gold – all of which are mined in the Democratic Republic of Congo and its neighboring countries.

In August 2012, the Security Exchange Commission (SEC) adopted rules on conflict minerals that require companies to publicly disclose their use of columbite-tantalite, cassiterite, wolframite or gold

Highlights of the regulations on conflict minerals

  • Companies using any of the conflict minerals or any metal made from any of them in their production process are required to disclose the provenance how the mineral has been produced and supplied.

  • The regulations consist of three sections: applicability, reasonable country of origin inquiry and due diligence, reporting, and auditing.

  • The SEC's disclosure requirement applies to any conflict mineral, whether or not it is from Congo or an adjoining country.

The London Bullion Market Association (LBMA) recently added a requirement to its newly established Responsible Gold Guidance that any refinery wishing to be part of the Gold Good Delivery List should not use any conflict mineral. This stipulation was added in order to raise the credibility of its member refineries and help the global gold market function more sustainably.

As an LBMA member, LS MnM has an independently-certified, in-house process to control gold materials in accordance with the LBMA's Responsible Gold Guidance.