Complying with the initial deadline to report on the use of conflict minerals has been a mad scramble for companies that have had to reach out to hundreds, thousands, or even tens of thousands of suppliers to ascertain whether their products contain the minerals in question.
The Securities and Exchange Commission's (SEC's) conflict minerals disclosure requirement was mandated by Dodd-Frank and aims to eliminate the use of four minerals—tantalum, tin, tungsten, and gold—when they are providing funding for groups involved in human rights violations in the Democratic Republic of the Congo.
The countdown to the June 2 deadline was interrupted by an appeals court ruling last month that one portion of the SEC regulations violates companies' First Amendment rights. Lawyers say, though, that the decision doesn't mean companies should abandon their efforts to meet this year's deadline.
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