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Companies Urged To Carry Out Due Diligence On

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Published by AfroSocio.com in News
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The European Parliament has been debating new EU rules requiring all but the smallest companies to carry out due diligence for imports of 4 minerals which may come from war-torn areas of the world. ] In June 2016, after several years of negotiations, the EU reached a political understanding on a new regulation designed to break the links between the minerals trade, armed groups and human rights abuses. Forcing firms to adhere to international monitoring standards aims to prevent money from the sale of the minerals falling into the hands of armed groups. The checks will need to be undertaken by importers of tin, tungsten, gold and tantalum. That last one is a metal often used in mobile phones. A deal reached on the rules towards the end of last year will only see exemptions granted for small scale importers like dentists and jewellers.

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