On 12th August, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on three ITSCI member entities: Cooperative des Artisanaux Miniers du Congo (CDMC), East Rise Corporation Limited (East Rise) and Star Dragon Corporation Limited (Star Dragon).
ITSCI takes its legal and regulatory obligations seriously. Accordingly, we have engaged external legal counsel specialised in U.S. sanctions compliance and taken all steps necessary to comply with any applicable U.S. sanctions obligations.
As recommended by the OECD Due Diligence Guidance for Responsible Supply Chain of Minerals from Conflict-Affected and High-Risk Areas, individual companies are responsible for conducting their own due diligence. In light of the OFAC sanctions, ITSCI recommends that companies engage with their suppliers and customers concerning the sanctions.