Trade Groups Open Conflict Minerals Resource Center
A group of trade associations are working together to create the Conflict Minerals Resource Center, a website meant to "provide education to help companies in the supply chain comply" with Securities and Exchange Commission rules requiring companies to publicly disclose their use of conflict minerals that originate from the Democratic Republic of the Congo or an adjoining country, they said in a press release. "The goal of the joint initiative is to deploy easy-to-use Conflict Minerals compliance tools across the seven industry associations," they said. "By providing the member companies and their vendors and contractors with the information and resources needed to meet the compliance requirements, all players along the supply chain can spend less time navigating policy, and more time producing the products and services that generate economic growth and jobs."
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The effort involves input from the American Apparel & Footwear Association, the Fashion Jewelry and Accessories Trade Association, the National Association of Manufacturers, the National Electrical Manufacturers Association, the National Retail Federation, the Toy Industry Association and the US Fashion Industry Association, the release said. Compliance company Source Intelligence and law firm Schulte Roth are also involved. The SEC rules went into effect in 2012 (see 12082308) and the first report is due to the SEC by May 31. An individual membership costs $65 per year.