3 Replies Latest reply on Nov 2, 2015 10:23 AM by franck.deschamps

    Possibility of Chinese Conflict Minerals Legislation

    abarron

      With the likelihood of European Conflict Mineral legislation coming into effect China’s Chamber of Commerce of Metals, Minerals and Chemicals Importers and Exporters (CCCMC) has proposed conflict mineral guidelines for the region.


      The draft guidelines build on a CCCMC document released in October 2014 titled The Guidelines for Social Responsibility in Outbound Mining Investments. In that document, the CCCMC calls for voluntary due diligence on the part of Chinese companies to identify and mitigate the risks in their supply chains.


      According to the draft guidelines, “all Chinese companies which are extracting and/or using mineral resources and their related products and are engaged at any point in the supply chain of minerals” would be in scope of the legislation. The guidelines were developed with the help of the Organisation for Economic Cooperation and Development’s (OECD) Due Diligence Guidance. However, the Chinese guidelines go further, encouraging companies to look out for other risks including human rights violations, non-3TG material sourcing that contributes to conflict, bribery and tax fraud.

       

       

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