Sourcing of materials beyond conflict minerals
For several years publicly traded companies have been required to report annually to the U.S. Securities and Exchange Commission (SEC) whether the products that they manufacture, or contract to be manufactured, contain "conflict minerals". These minerals, such as tantalum, tin, tungsten, and gold, which are used in numerous automotive components with various applications. This requirement is intended to increase supply chain transparency of minerals sourced from the Democratic Republic of the Congo, adjoining countries, and other high-risk regions shown to fund armed groups violating human rights. Subsequently, reporting mandates have been issued to suppliers, publicly-traded and privately-held companies, to gain greater supply chain transparency.
Recent European and Chinese regulatory influence on the auto industries reporting of tantalum, tin, tungsten, and gold (“3TG”), and other minerals, such as cobalt and mica, lithium, etc. may necessitate additional support in the future to assess all global regions of conflict.