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Conflict minerals, extractive payments rules suffer fatal blows

Joe Mont | February 7, 2017

Two of the most controversial rules handed over to the Securities and Exchange Commission by the Dodd-Frank Act—so-called conflict minerals and extractive payments disclosure requirements—are all but dead and buried.

The House and Senate both voted last week to eliminate the latter rule, which would have required oil, gas, and mining companies to report the payments they make to foreign and domestic governments for extraction rights. As for the conflict minerals rule—a requirement that companies disclose their use of certain minerals mined from the war-torn Democratic Republic of the Congo—it is on life support, with the SEC’s acting chairman opening public comment for a reconsideration of the rule, a move expected to expedite its demise.

Conflict over minerals

The conflict minerals rule, issued by the SEC in August 2012, requires companies to disclose information each calendar year on the source of tantalum, tin, gold, and tungsten used in...

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