Critics Disappointed by Conflict Minerals Reporting

Reuters reported that only 5 percent of companies that filed their conflict minerals reports with the US Securities and Exchange Commission on June 2 “traced the conflict status of the minerals used in their products.” That information comes via US risk management firm Source Intelligence.

As quoted in the market news:

A grace period means big firms can say they were unable to get information for two years, but campaigners urged them try harder, saying the law had already helped but could do more.

‘Overall we’ve been disappointed with the response of companies, and the lack of meaningful information on the supply chain checks and risk assessments they are doing, although a few of the reports have been strong,’ said Emily Norton, assistant campaigner with Global Witness in London.

The electronics sector has been the most robust at tracing the source of its minerals, Norton said, holding up chip giant Intel as a rare company that had conducted an audit.

Click here to read the full Reuters report.