02 Aug BLOOD MINERALS
A huge crackdown in the US is forcing technology firms to come clean about the source of the minerals used in smartphones and electronics. There are four most commonly mined conflict minerals, they are Cassiterite (for tin), Wolframite (for tungsten), Coltan (for tantalum), and gold ore. These are all extracted from Eastern Congo (www#1). These resources take a ride thru the global supply chains and end up in our mobile phones, laptops, jewelry and other products. These items are traded on the exchange swapped by banks. This is a global problem, profits from the diamond and gold trade stir up the pot and contribute to conflict (www#1).
Since February 2018, the Securities and Exchange Commission has considered weakening or repealing the US rule, the Dodd Frank Act 1502, as it has turned in a boycott of minerals. The purpose is to prevent militia groups mining profits to fund fighting. Rescinding this rule and allowing congress and the executive to develop better policies to this problem is the clear solution (www#2).
Some tech lobbies, wishing to wash their hands of any responsibility for the exploitation of blood minerals has recently listed that coltan is no longer used in the making of mobile phones, tablets, consoles or cameras. Also to state that mines were closing. However, the truth is out there that the demand for the mineral is still greater than its supply (www#3).
www #1: Responsible Minerals https://www.globalwitness.org/en/campaigns/conflict-minerals/#more (Links to an external site.)
www #2: Negative Impacts of US conflict minerals law being ‘exaggerated’ https://chemicalwatch.com/67181/negative-impacts-of-us-conflict-minerals-law-being-exaggerated (Links to an external site.)
www #3: Blood and Minerals: Who profits from conflict in DRC https://www.aljazeera.com/indepth/features/2016/01/blood-minerals-profits-conflict-drc-160118124123342.html*********
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