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Article

29 Jun 2012

Author:
Jonny Hogg & Jan Harvey, Reuters

"Conflict gold" trade continues in face of U.S. law [Dem. Rep. of Congo]

[While] the Dodd-Frank financial regulation act...has sent shockwaves through the global gold industry, the fractured and opaque nature of the gold supply chain means it has yet to have an impact...on the ground...Electronics companies such as Dell and Intel have signed up to codes of conduct excluding conflict minerals from their supply chains, and jewelry retailers are pressuring manufacturers to do the same...But in Congo, exporters are still finding routes to get gold from remote regions to market. Research into the impact of Dodd-Frank by a U.N. Group of Experts...found that while it had cut the sums earned from tungsten, tin and tantalum mining used to support warlords and buy guns, it had not had the same effect on the gold industry. "Gold is just less tractable as a mineral in terms of being responsive to this kind of regulation, because it's so easily smuggled,"... [refers to Banro]