• SEC Proposes Rules to Implement the “Conflict Minerals” Disclosure Requirements of the Dodd-Frank Act: Proposed Rules Would Require Disclosures and Related Procedures Regarding Minerals Found in a Wide Array of Products
  • January 25, 2011
  • Law Firm: Sullivan Cromwell LLP - New York Office
  • The SEC has proposed rules under the Securities Exchange Act that would require disclosure of certain information related to “conflict minerals,” as required by Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. “Conflict minerals” are defined to include columbite-tantalite, also known as coltan (the precursor to tantalum); cassiterite (a precursor to tin); gold; wolframite (the precursor to tungsten) and their derivatives. These minerals and their derivatives are found in a wide array of products, including computers, mobile telephones and other consumer electronics; jewelry; and various electronic, electrical, communications and aerospace applications. The SEC has indicated that, in light of the many uses of these minerals and their derivatives, it expects the proposed rules to apply to many issuers.