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What Is a Conflict Minerals Statement

What Is a Conflict Minerals Statement
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There are several points in 3TG`s supply chain for minerals and metals (. B extraction, refining, transport) where the money from the sale can go to armed groups or criminals. If, as a result of its investigation, a company cannot reasonably conclude that its gold comes from recycled sources or scrap, it is required to exercise due diligence in accordance with the OECD Due Diligence Guidance and to obtain a review of its conflict minerals report. Currently, gold is the only conflict mineral with a nationally or internationally recognized due diligence framework for determining whether it is recycling or scrap metal that is part of the OECD Due Diligence Guidelines. Conflict in the Democratic Republic of the Congo not determinable – If, for a temporary period of two years (or four years for small reporting companies), the company cannot determine whether the minerals contained in its products come from the countries covered or have financed or facilitated armed groups in those countries, these products are considered “undetermined conflict in the DRC”. If a company`s products have not been found to be “conflict-free in the DRC”, in addition to audit and certification requirements, the company must describe the following in its conflict minerals report: For products that are “not determinable in the DRC”, the company is not required to receive an independent review of the conflict minerals report on the conflict minerals contained in those products by the industry. private. However, countries around the world buy products that contain these minerals, so it is important to encourage others to take similar measures. And as soon as the laws are in force, they must also be implemented correctly.

Countries or territories that are classified as conflict-affected or high-risk are: An agreement has been reached on key elements of the conflict minerals package between: Northrop Grumman is committed to responsible mineral sourcing across our global supply chain. In 2012, the U.S. Securities and Exchange Commission (“SEC”) issued rules to implement the disclosure requirements for “conflict minerals” of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”). In accordance with these rules, we report annually to the SEC on our use of conflict minerals (tantalum, tin, tungsten and gold) originating in the Democratic Republic of the Congo (“DRC”) or any of the adjacent countries of the Democratic Republic of the Congo in products manufactured by the Company. To determine if our manufactured goods contain conflict minerals, we conducted a survey of our major suppliers to determine if they use conflict minerals in the materials they supply to us. The results of this survey show that our major suppliers (i) do not use conflict minerals in the materials they supply to us, (ii) have no reason to believe that the conflict minerals they use come from the countries covered, and /or (iii) reasonably believe that the conflict minerals they use come from recycled sources or scrap. Therefore, we can in turn declare that, to the best of our knowledge and belief, our manufactured goods do not contain conflict minerals or that these products are “conflict-free in the DRC” within the meaning of Article 1502(e)(4). Tungsten, tantalum, tin (and the minerals from which they come) and gold are considered “conflict minerals” in the United States. Dodd-Frank Act (Dodd-Frank Wall Street Reform and Consumer Protection Act, passed by the U.S. Congress in 2010).

In 2010, the United States passed a law known as the Dodd Frank Act Section 1502. It requires U.S.-listed companies to conduct due diligence on minerals from the Democratic Republic of Congo and neighboring countries. In 2010, Congress passed the Dodd-Frank Act, which directed the commission to enact rules requiring certain companies to disclose their use of conflict minerals when those minerals are “necessary for the functionality or production of a product manufactured by those companies.” By law, these minerals include tantalum, tin, gold or tungsten. Companies that do their due diligence first look at how risky it is to source raw materials from a fragile or conflict-affected area. They assess the likelihood that these raw materials could finance conflicts, forced labour or other risks set out in the regulation. EU importers of tin, tantalum, tungsten and gold must check what they buy to ensure that it has not been produced in such a way that the funds come into conflict or other related illegal practices. These so-called “conflict minerals” such as tin, tungsten, tantalum and gold, also known as 3TG, can be used in everyday products such as mobile phones and cars or in jewelry. Congress passed Article 1502 of the bill because it fears that the exploitation and trade of conflict minerals by armed groups could contribute to the financing of conflicts in the DRC region and contribute to a humanitarian emergency. Section 1502 of the Act amends the Securities and Exchange Act of 1934 to add Section 13(p).

For minerals covered by the regulation, this means that companies must verify that what they buy is purchased responsibly and does not contribute to conflicts or other related illegal activities. If you have any specific questions or would like more information, please send an email to conflictminerals.info@ngc.com Currently, based on the information available, we may indicate that our products do not contain conflict minerals. .

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