The US government wants to know if there are conflict minerals in companies’ supply chains. Trade data can supply answers.
Miami, Fla. (PRWEB) April 28, 2015
Datamyne, a leading provider of web-based international business intelligence, has been tracking the trade data on imports of tantalum, tin, tungsten and gold – so-called Conflict Minerals, often abbreviated as 3T+G – from Africa into the US, as well as shipments moving from Africa into China, and from Africa into Mexico.
“The US government wants to know if there are conflict minerals in companies’ supply chains,” says Lisa Wallerstein, Datamyne vice president of marketing.
Under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, publicly-held companies that make, or contract for the making of products containing any Conflict Minerals must file a special disclosure with the Securities and Exchange Commission stating whether these minerals originated in the Democratic Republic of Congo or its neighbors (such as Rwanda and Uganda) – and if so, whether they are known to be mined, processed or traded by armed groups to finance the conflict devastating Central Africa.
The SEC Conflict Minerals reporting requirement was effective last June; the next round of disclosures is due May 31st.
Noting an April 22nd report from Amnesty International critical of companies’ compliance with the reporting requirement, Wallerstein comments that “the NGO is suggesting that publicly-held companies subject to the requirement should provide more details about downstream suppliers that may be privately held, or otherwise not directly subject to the requirement.
“Trade data is a reliable source of information on the countries of origin and other details of import transactions and can fill in some of the gaps in documenting supply chains.”
Datamyne is inviting companies to review its Conflict Minerals data on imports into the US, China and Mexico. Inquiries may be directed to info(at)datamyne(dot)com or by click through http://www.datamyne.com/contact-us/.
Founded in 1992 with the aim of clearly and accurately documenting import-export transactions in the Americas, Datamyne has since claimed a top-ranked position in the highly competitive US market for trade data. Datamyne today offers the best value in business intelligence: easy access, with expert support, at an affordable price, to the world’s largest searchable trade database.
Learn more at http://www.datamyne.com.