Conflict Minerals: More US Senators Oppose Indeterminate Origin, Urge SEC for “Strong Regulations”

In a letter filed February 16, 2012 (the same date as a letter filed by a group lead by Senator Patrick Leahy), another group of five high ranking US Senators pushed SEC to finalize the conflict minerals rules, saying “it has been over a year and a half since Section 1502 was signed into law and its full and meaningful implementation is long overdue”.

Substantive comments made in the short letter include:

  •  “Congress did not intend for Section 1502 to provide companies with an option to report that the origin of materials cannot be identified.  If a company cannot affirm that the minerals are “conflict-free”, the only other conclusion that could be reported would be that the product may contain materials the directly or indirectly finance armed groups in the DRC.”
  • “… we strongly urge you to issue strong regulations with no phase-ins or delays…”

The letter is co-signed by Senators Barbara Boxer, Frank Lautenberg, Barbara Mikulski, Sheldon Whitehouse and Ron Wyden.

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