Profile on Conflict Minerals Policy
In 2012, SEC confirmed the law regarding the use of conflict minerals acquired in The Democratic Republic of Congo and its neighboring countries. This legislation is put in place to prevent the financing of armed groups violating human rights and the use of forced labor. The legislation is written in the “Dodd-Frank Wall Street Reform and Consumer Protection Act” and states that American companies on an annual basis must report relevant data regarding their products and contacts with their suppliers to identify if conflict minerals have been utilized.
The conflict minerals, also known as 3TG, include cassiterite (tin), gold, columbit-tantalit (coltan, niobium, and tantalum), wolfram as well as its derivatives, which has been extracted in the following areas: The Democratic Republic of Congo, the Central African Republic, South Sudan, Rwanda, Uganda, Tanzania, Angola, Zambia, and Burundi.
At BSM, we support the “Dodd-Frank Act,” focusing on minimizing the risk of armed groups in the countries mentioned above, which financially exploit the sale of conflict minerals. This Act is part of our basic principles on human rights, ethics, and social and environmental responsibility. We are focused on partnering with suppliers, which likewise focus on the above principles and taking part in the human rights battle.
The value chain at BSM is highly complex and consists of several parties. Therefore, we do not partner directly with the original source of conflict minerals. However, we value a high degree of transparency throughout the whole value chain, especially regarding conflict minerals. Our goal is to secure that all components and materials applied in the production of our products are conflict-free, which are traded socially responsible.
Our expectation to our suppliers
At BSM, we expect our suppliers to work with their suppliers, like we do, according to following the Dodd-Frank Act to ensure that our suppliers can pass on all information requested. Additionally, we expect the individual supplier to do its own due diligence of their suppliers to ensure that all minerals are conflict-free and socially responsible.
To ensure transparency within the supply chain, BSM kindly requires all suppliers to provide a Conflict Minerals Reporting Template (CMRT) once every year.