Close Menu
    Latest Category
    • Finance
    • Tech
    • EU Law
    • Energy
    • fx
    • About
    • Contact
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Login
    • EU News
    • Focus
    • Guides
    • Press
    • Jobs
    • Events
    • Directory
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Home

    MEPs vote to stop trade in minerals financing armed conflicts

    npsBy nps18 March 2017Updated:25 June 2024 No Comments2 Mins Read
    — Filed under: EU News European Parliament Headline1 Trade
    Share
    Facebook Twitter LinkedIn Pinterest Email
    MEPs vote to stop trade in minerals financing armed conflicts

    conflict minerals – Photo © EU – AP

    (STRASBOURG) – The EU Parliament approved Thursday new rules to ensure that minerals used by European industries are sourced responsibly, diverting revenues away from rebel groups, conflict, and terror.

    The Regulation will impose due diligence rules on companies who import tin, tantalum, tungsten and gold – metals and minerals used in the production of everyday products such as mobile phones, car and jewellery.

    Mineral-rich countries afflicted by conflicts have faced a vicious circle in which revenue from illegally extracted resources feeds armed revolts. The new rules are intended to ensure that minerals used by European industries are sourced responsibly, in a way that does not harm populations in mining regions and does not fuel war. They will reduce hardship and human rights abuses that have accompanied the trade.

    Transparent and responsible supply chains mean revenues will not go into the hands of rebel groups, but to investment in schools and hospitals, supporting a well-governed state underpinned by the rule of law. It means improving people’s lives, from conflict and terror to opportunity and hope. It means encouraging the economic growth that helps the poorest regions grow sustainably.

    The regulation applies to all conflict-affected and high-risk areas in the world, of which the Democratic Republic of the Congo and the Great Lakes region are the most obvious examples. Experts will draw up a non-exhaustive list of areas, but country of origin is not the only indicator: information on transit or an irresponsible supplier should also prompt a background check.

    Together with the new rules, the EU will be putting in place accompanying measures to support small and medium-sized importers, and development aid to ensure the Regulation is effective and has a positive impact on the ground.

    The rules will cover up to 95% of imports as of 1 January 2021. In the meantime, the Commission and EU Member States say they will work to make sure that the necessary structures are in place to ensure EU-wide implementation.

    The Regulation now has to be formally adopted by the Council .

    Further information, European Parliament

    Procedure file

    Adopted text (2014/0059(COD) will soon be available here (16.03.2017)

    Conflict minerals at a glance (March 2017)

    Add A Comment

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    nps
    • Website

    Related Content

    EU approves EUR 300m for common defence procurement projects

    EU proposes e-declaration for the posting of workers

    EU calls on Apple to end geo-blocking on media services

    EUR/USD touches one year low as Trump takes control of Congress – Euro currency news daily

    EU artificial intelligence factories set for 2025

    Council agrees reform of EU VAT rules for the digital age

    LATEST EU NEWS

    EU approves EUR 300m for common defence procurement projects

    14 November 2024

    EU proposes e-declaration for the posting of workers

    14 November 2024

    EU calls on Apple to end geo-blocking on media services

    14 November 2024

    EUR/USD touches one year low as Trump takes control of Congress – Euro currency news daily

    14 November 2024

    EU artificial intelligence factories set for 2025

    13 November 2024
    BRIEFING

    Agenda

    This week, COP29 begins in Azerbaijan; finance ministers discuss the EU's annual budget for 2025; and MEPs hold a plenary session on EU-US relations, EU summits, deforestation and COP 29...

    EUbusiness Week

    This week competitiveness and environment ministers will hold informal meetings…

    Eurozone Economic Calendar

    Key economic calendar events for the week 11 to 16 November 2024

    The Week's Top Stories

    This week competitiveness and environment ministers will hold informal meetings…

    Advertisement

    Subscribe to EUbusiness Week

    Get the latest EU news

    Latest Posts

    EU approves EUR 300m for common defence procurement projects

    14 November 2024

    EU proposes e-declaration for the posting of workers

    14 November 2024

    EU calls on Apple to end geo-blocking on media services

    14 November 2024

    EUR/USD touches one year low as Trump takes control of Congress – Euro currency news daily

    14 November 2024

    CONTACT INFO

    • EUbusiness Ltd 117 High Street, Chesham Buckinghamshire, HP5 1DE United Kingdom
    • +44(0)20 8058 8232
    • service@eubusiness.com

    INFORMATION

    • About Us
    • Advertising
    • Contact Info

    Services

    • Privacy Policy
    • Tems
    • EU News

    SOCIAL MEDIA

    Facebook
    eubusiness.com © EUbusiness Ltd 2025
    Design and developed by : Dotsquares

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Lost password?

    Register Now!

    Already registered? Login.

    A password will be e-mailed to you.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok