Overview of Conflict minerals
Conflict minerals are the minerals such as the tin, tantalite, tungsten, gold, etc. which are extracted from the Democratic Republic of the Congo or adjoining countries which are involved in conflicts. The fund raised from the conflict minerals finances the armed groups in the conflict regions and can cause violation of human rights such as child labor, forced labor and abuse of women during the mining process. Amid the increasing international concern on it, the US Congress passed the Dodd–Frank Wall Street Reform and Consumer Protection Act  which requires US listed companies to audit their supply chains and report conflict minerals usage to US SEC (Securities and Exchange Commission) under the provisions of Article 1502 of the law
- According to SEC's Conflict minerals regulation, the conflict minerals are defined as follows.
- 1)Coltan, cassiterite, gold, wolframite and their derivatives
- 2)Minerals designed by the US Secretary of State to profit the armed groups in the Democratic Republic of the Congo and adjoining countries
- Dodd-Frank Wall Street Reform and Consumer Protection Act: A financial reform law passed by the US Congress in 2010 to prevent reoccurrence of financial crisis occurred in 2008. It is called the largest financial reform act since the Great Depression. The law stipulates strengthening of regulation and supervision of major financial companies, reformation of financial regulating agency, etc.
Conflict region: Democratic Republic of the Congo and 9 adjoining countries
Reserve of Conflict Minerals in Conflict Region
- Reserve of Conflict Minerals in Conflict Region/ Reserve of Conflict Minerals in World (%)
- Reference : Philips 2012, IBM, 2011 CSR Report