EU Creates System to Recognize Voluntary Conflict Minerals Due Diligence Schemes
The European Union on March 19 published a new regulation governing the recognition of supply chain due diligence schemes for conflict minerals. Under regulations issued in 2017, EU importers of tin, tantalum, tungsten and gold must exercise due diligence beginning…
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in 2021 “to provide transparency and certainty as regards the supply practices of Union importers and of smelters and refiners sourcing from conflict-affected and high-risk areas.” That regulation provides for the recognition of voluntary schemes by the EU that, “when effectively implemented by a Union importer of minerals or metals, enables that importer to comply,” the EU said. The March 19 regulation establishes “methodology and the criteria to be used by the Commission to determine whether a scheme should be granted recognition," and takes effect April 8.