US House of Representatives seeks to halt implementation of US conflict mineral reporting

Washington DC based ‘The Hill’ reported here that Bill Huizenga filed a late amendment to the financial services appropriations bill to block funding for enforcement activity of section 1502 of Dodd Frank – the ‘conflict minerals’ reporting rules in the US – with the objective to halt implementation. The amendment was adopted by the House Rules Committee and will be voted on by the House of Representatives shortly. The amendment had been scheduled for consideration on 22nd June, but a sit-in by House Democrats, seeking debate on gun control, blocked the vote. The appropriations bill is expected to come up when the House returns from its recess on 5th July. The Hill also commented that “since the ‘conflict minerals’ provision passed, there has been a significant reduction in armed group activity in many mining areas in eastern Congo, and unprecedented improvements in the transparency of corporate minerals supply chains. It has helped to bring the majority of tin, tantalum, and tungsten (the “3Ts”) mines to “conflict-free” status in eastern Congo”, and noted that “conflict gold is still a major hurdle”.