AIAG Offers Assessment of Progress, and Plans for Future
Southfield, Mich., May 30, 2014 /3BL Media/ – With thousands of automotive, electronics and manufacturing companies facing a May 31 deadline to file a Conflict Minerals Report with the U.S. Securities and Exchange Commission, the Automotive Industry Action Group (AIAG) today announced an assessment of industry progress on the issue in the first reporting year, and outlined plans for increased collaboration in the years ahead.
The final due date for Conflict Minerals reporting is nearing and U.S industries are feeling the pressure of implementing Conflict Minerals law, Dodd Frank SEC 1502 to their supply chains. Halting the massive consumption of raw materials that are being mined by grave human rights abuses in Africa, means transparency in supply chains. Whether the materials are Conflict-Free or not, all publicly traded U.S. companies must comply to the federal law by May 31, 2014. Its an undertaking that’s effecting the system of international supply chains entirely.
Next up in our “Conflict Minerals Compliance Basics” series we are going to cover your Reasonable Country of Origin Inquiry (RCOI). If you have initiated your conflict minerals compliance program, you likely began your process by carefully filtering your products to identify those that may contain gold, tin, tantalum and tungsten (3TG) necessary to functionality or production. Based on this focused list, you are now ready to initiate a Reasonable Country of Origin Inquiry (RCOI) by working with companies throughout your supply chain.
In a new report, the International Peace Information Service (IPIS) has reported that out of the 800 mines in the Democratic Republic of Congo (DRC), 200 are involved with armed groups and 265 are involved with the army. Both of which impose illegal taxes on miners. Many of these mines are gold producing, which are targeted by the armed groups because of the hike in price of gold and the ease of smuggling gold.