Companies utterly unprepared for SEC Conflict Minerals compliance - PwC
Author: Dorothy Kosich, Mineweb, Published on: 12 July 2013
With reporting requirements for the SEC’s Dodd-Frank Conflict Minerals Rule due on May 31, 2014, a PwC survey of 900 executives conducted in the spring determined nearly half of them are still in the initial stages of their compliance, while 32% are still trying to figure out if the rule applies to them. Of the companies that at least started gathering conflict minerals information, 72% are in industrial products & manufacturing, technology and the auto industries. PwC found these industries have made the most progress in completing the reasonable country of origin inquiry...The Conflict Minerals Rule identifies four conflict minerals—tantalum, tin, tungsten and gold—found in thousands of products including cell phones and laptop computers to jewelry, golf clubs, drill bits and hearing aids.