Ivanhoe’s Kipushi zinc mine in DRC officially reopens
The restart marked exactly a century since the mine first went into production.
The European Union passed Monday fresh rules that make it more difficult for armed groups to finance their activities through the sale of so called conflict minerals.
The new legislation, which becomes binding in January 2021, forces all the 28 member countries to identify the source of their metals and mineral imports, particularly gold, tin, tantalum and tungsten, which are highly used in tech devices, batteries for electric cars and jewellery.
The new law, which will come into force in 2021, requires importers to ensure their business do not contribute to armed conflicts.
The countries will also have to ensure that their supply chains do not contribute to funding armed conflict.
The legislation, passed after about three years of debate, is seen as a step forward in product traceability and the fight against armed conflicts. But despite being binding, it will neither apply to the whole supply chain, nor will it cover all importers.
The council argues the rules cover at least 95% of all the EU imports of metals and minerals, but acknowledges that they don’t apply to importers whose annual import volumes are below a certain threshold amount. This exemption is intended to provide some relief to smaller companies, the lawmakers said in the statement.
Another shortcoming of the new law is the fact that covers only four minerals and omits other resources, such as cobalt, which have been linked to serious human rights violations.
Under the legislation, manufactured products will not be subject to the traceability requirements, which experts warn is likely to make room for loopholes in the system.
The move comes shortly after US President Donald Trump announced his intention to review some of the provisions of the Dodd-Frank law, which governs mineral imports to the US and on which the EU’s own law is based.
2 Comments
Caspial
Hi
Who are war lords. Let us first understand… Means War lords mine Gold then sell that Gold to get Money and then spend that money to buy weapons and what they do with that weapons…..I think ???. Instead they can live well with the sold gold…..Anyway… Let’s say they buy weapons to control a territory…….and if so…. companies like BHP, RioTinto…etc… still does great business in those zones….. how suprising…..!!!!
Let’s blame our own political structure and business practise under the name of Terrorism or war lords. These are words given to us by modern politics and business who now can’t afford a World Wars like they did in past. So under the cover of terrorism and war lords they wish to do what they want.
Let’s not forget that terrorist attack on USA was not a so called Islamic Attack but a well funded project of USA politics and Corporate Financial (Lehman Brothers). Funding was provided by so called USA to Osama bin Laden by Corporate world to finish or wipe out all documentary evidence of Recession and in turn plan was to finish Osama so there is no evidence at all. Well Planned and executed….
Items to think: Why World Trade Tower and Not the White House……. ?????
Mineral Conflict is not at all there. This word is a undercover monopoly rights given to exploit Africa by EU and USA through big giants in Mining Industry.
Extermy
This sanctions only have an effect on those Companies or Countries abiding by the sanction rules. Wherever I have traveled, it was noticed with great disgust how the raw materials are actually smuggled out by the funders. Vast amounts of buying depots are being set up the Chinese, Indians, Lebanese, Israelis, Russians and many other more that promotes children to go onto legal sites and mine and sell to them. These same groups are also very active in the non legal sites doing their business as long as the officials in governments can also get a kick back on the sale of these goods. Zimbabwe, Congo Brazzaville, DRC, Nigeria, Niger, Somalia, Mozambique (all countries in Africa) and obviously where there are conflict in other countries, like South America or Central America. These Sanctions are futile in the eyes of many since it keeps on fueling the wars and make the government officials rich and opposing their own people.