Commissioner Malmström welcomes Parliament’s approval to stop trade in minerals financing armed conflicts
The European Parliament has adopted by an overwhelming majority the proposal to stop trade in conflict minerals. Commissioner for Trade Cecilia Malmström said: “I’m very glad we now have an ambitious, workable solution to eliminate conflict minerals from supply chains. Trade needs to take account of our values, and the Parliament’s decision today is a great example of how this can be achieved. The new rules will ensure that minerals used by European industries are sourced responsibly, in a way that does not harm populations in mining regions and does not fuel war. The new regulation will reduce the hardship and human rights abuses that have for too long accompanied this trade.” The Regulation brokered by the Commission and voted yesterday by the European Parliament will impose due diligence rules on companies importing tin, tantalum, tungsten and gold. Such metals and minerals are used in the production of everyday products such as mobile phones, car and jewelry. The rules will cover up to 95% of imports as of 1 January 2021. In the meantime, the Commission and Member States will work to make sure that the necessary structures are in place to ensure EU-wide implementation. To become effective, the Regulation still has to be formally adopted by the Council.