I would be remiss in failing to mention the new legislation that has an impact on the Democratic Republic of the Congo. I am referring to the conflicts minerals rider on the financial reform bill, more precisely, “Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act: Conflict Minerals.”
The aim of this legislation is to compel companies trading in minerals to perform due diligence on supply chains, thereby stemming the financial support of armed groups in the DRC– the same armed groups that are responsible for rampant human rights abuses–by what have become known as “conflict minerals.”
Companies are required to report annually to the Securities and Exchange Commission whether they use minerals (cassiterite (tin ore), gold, coltan, and wolframite), specifically sourced from the DRC or neighboring countries. In the case that they do, they must identify the mine of origin. The bill also calls for increased efforts to improve conditions for communities dependent on mining. After two years, congress is to assess the effectiveness of said Act.
The act also puts the onus on local actors, requiring the Congolese government and those of neighboring countries to improve economic and political institutions to ameliorate cross-border transparency and decrease the exploitation of the mineral trade by armed groups.
While this act addresses only one of the many issues fueling violence in the eastern DRC, it is a welcome development on the road to peace in Congo.
Posted By 2010 Fellow
Posted Aug 21st, 2010