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Update on Conflict Minerals Legislation

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Update on Conflict Minerals Legislation

Posted by Darren Fenwick on June 30, 2010

Update on Conflict Minerals Legislation

We took a major step forward with the inclusion of the Congo amendment to the financial reform bill. After the negotiations between members of the House and Senate in conference committee last week, the final language requires companies that use tin, tungsten, tantalum, or gold in their products to file a disclosure report with the Securities and Exchange Commission detailing whether these materials originated in Congo or its adjoining countries.

While this was a huge achievement, the fight is not over. For this provision to become law, Congress must pass the financial reform bill. The House is expected to vote on the financial reform bill later today.

With the death of Senator Byrd and concerns from a handful of senators, the Senate is expected to vote on the bill after the July 4 recess. That means we expect a Senate vote the week of July 12. Of course, anything could happen between now and the vote.

We will keep you posted and thank you for all your hard work, without which we would not be where we are.