What Conflict Minerals Legislation Is Actually Accomplishing in Congo

The Huffington Post reports that the Dodd-Frank Act is accomplishing its goal of curbing conflict minerals trade in the DRC.

The market news is quoted as saying,

Minerals exports from the Kivus have decreased by approximately 75 percent, and the lowered exports are directly threatening commanders’ multi-million dollar profits. Some commanders have resorted to smuggling, which has increased some 15-25 percent, but this smuggling is not nearly equal to the hand-over-fist profits that they generated in previous years. Other commanders have switched from trading in tantalum and tin to gold, and thus industry and the region must work more squarely on gold. The World Gold Council, OECD, and mining companies are starting with conflict gold initiatives, but more must be done.

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