Conflict Minerals

Addressing forced labor and conflict minerals in the supply chain: EU's 'Conflict Mineral' An Overview of Regulation and Due Diligence for ComplyMarket K Solutions

New European Union' conflict mineral' regulation(2017/821) addresses the use of forced labor in mining minerals in politically volatile regions. These minerals, e.g. tin, tantalum, tungsten, and gold, Often sold for illegal activities such as buying weapons and our mobile phones, can find your way in cars, And jewelry.

EU importers of these minerals are required to check what they buy to ensure that they have not been produced in a way that funds conflict or other related illegal practices. The regulation stipulates that importers follow a five-step framework. The Organisation for Economic Co-operation and Development (OECD) has put it in a document called 'conflict-affected and high-risk areas'(OECD guidance). These steps include:

• strong Setting up a company management system
• Identifying and assessing risk in the supply chain
• Designing and implementing a strategy to respond to identified risks
• o Perform an independent third-party audit of the supply chain due to due diligence
• O Supporting reporting annually on supply chain due to due diligence

ComplyMarket How can we help you:

ComplyMarket supply chain stability to collect information from suppliers, ComplyDoC, Provides an intelligent IT and first-time open source code cloud solution. ComplyDoC may assist with the following:

• strong Setting up a company management system
• Identifying and assessing risk in the supply chain
• Designing and implementing a strategy to respond to identified risks
• o Perform an independent third-party audit of the supply chain due to due diligence
• Supporting reporting annually on the supply chain due to due diligence.