As special purpose metals and alloys suppliers, we understand the necessity of keeping track with the latest standards and rules that may affect our business and our customers. That is why when the U.S. Securities and Exchange Commission (SEC) issued rules finalizing a section of the Dodd-Frank Wall Street Reform and Consumer Protection Act, we knew it was pertinent that we take action. As the rule states, no American manufacturers can utilize “conflict minerals,” or materials that are derived from the Democratic Republic of Congo, in any of their products.
What are the minerals specifically?
- Cassiterite (from which tin is derived).
- Columbite-tantalite (coltan, the mineral from which tantalum is extracted).
- Wolframite (from which tungsten is derived).
Additionally, the rule states that any other minerals that can be harvested from this area, or adjoining areas, and financially support the conflicts occurring there are outlawed. What does this mean for American manufacturers? We all now need to prove where the materials we use are coming from, and by doing so, guarantee that these materials aren’t derived from these conflict areas.
That is why Ed Fagan has taken steps to ensure that none of our materials are conflict minerals. We have reached out to our suppliers and determined that they do not utilize conflict minerals in any manufacturing process. As the rule is now in effect, we encourage you to all do the same!