Conflict Minerals Reporting Template Example

Do you know how the business of conflict minerals report is conducted and how to use the Conflict Minerals Reporting Template to get your report finished? It is often required that companies who deal with these precious metals do a thorough assessment of the supply in front of them. For example, mining companies have to evaluate if there are sufficient stocks of a certain metal at a given location, or if a country’s minerals are sufficient for their own country. These activities require an integrated approach that should include survey data, geology reports, and an assessment of how the mine and company activities affect the environment.

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There are different types of conflict minerals. One type is metallic lithium, a very important mineral needed for industry and medical applications. Another mineral, tantalum, is used for construction purposes and is found in items like watches, calculators, cell phones, and even computers. Zinc is another conflict mineral that is essential in the manufacturing of just about everything. Other valuable types of minerals in conflict zones include tungsten, gold, and titanium.

However, not all countries have an ongoing conflict with these kinds of minerals. In fact, the vast majority of conflict zones are actually experiencing limited or none at all. However, it is still critical for mining operators to keep abreast of any changes in the security situation and potential instability in a particular country due to the cost of extractions and increased regional tension. In addition to maintaining regular monthly contact with local authorities and officials, it is also vital for mining operations to come up with a system to record the supply and status of conflict minerals. This information is used to meet the demand and sell conflict minerals on competitive terms.

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How does one know what conflict mineral there is? It can be pretty tough to determine, especially since not all of them are mined in every country. For example, Australia hasn’t had a significant issue with its natural resources since the nineteen seventies. The European Union, Canada, Norway, and the United States of America have never had any major mineral conflicts.

A major indicator to look for is how heavily a country’s economy relies on oil and gas imports. In cases where conflict minerals are affected, this could drastically change the value of that country’s currency. Just recently, Russia was prevented from selling a highly valued gem, rhodium, because it was found in conflict areas. Oil prices have surged in recent months, causing shortages and price rises for many common goods.

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There is a lot at stake for mining companies operating in conflict zones. Most people don’t realize that conflict minerals like tungsten have a lot of use beyond direct human consumption. They are also used in medical treatment and dental work. Tungsten can cause serious hearing damage in people who are exposed to too much of it. It has even been linked to lung cancer.

With all of this in mind, it’s easy to see how so many conflict minerals end up in the hands of unscrupulous traders. Without the proper infrastructure and monitoring, these unscrupulous businessmen can easily walk away with a large profit. While most countries try to deny illegal mining taking place, sometimes they simply cannot help it. The result is that these criminals move from one country to the next, getting more supply from whatever source they can find.

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This has been happening for years, but it has only recently come to light through a worldwide campaign called Defend the Earth. Through direct action and protests against companies that are buying conflict minerals, the hopes of stopping the theft and sale of conflict minerals has steadily increased. If enough citizens band together, there is a real possibility that this type of mineral warfare will be put to an end sooner rather than later. Before long, everyone on the planet will know exactly what it feels like to have conflict mineral supplies. We will then have the choice to either live with the effects, or fight back and defend our precious resources.