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Some U.S. companies still failing to meet conflict minerals rules, GAO says

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Some U.S. companies buying minerals from countries including the Democratic Republic of Congo and its eastern neighbours are still failing to properly authenticate that the metals don't come from conflict zones, the U.S. Government Accountability Office (GAO) said in a report.

A miner washes gold at Makala gold mine camp near the town of Mongbwalu in Ituri province, eastern Democratic Republic of Congo, April 7, 2018. REUTERS/Goran Tomasevic/File photo

Due diligence to check if the minerals originate from conflict zones could be done using supplier surveys, smelter and refinery audits as well as traceability methods. "Some industry stakeholders noted that other companies may be reporting incomplete information, or not filing at all because of a perception that they are unlikely to face enforcement action by the SEC if they do not comply with the conflict minerals disclosure requirements."

 

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