Company dynamics
on2019-10-23 17:00:53

Section 1502 of the US Dodd-Frank Wall Street Reform and Consumer Protection Act effective on July 21st 2010 defines ‘Conflict Minerals’ as including ‘cassiterite and its derivatives’ along with two other minerals and gold. Yunnan Chengfeng Non-ferrous Metals Co., Ltd generally supports the objectives of this law and has no link between mining and conflict in the eastern Provinces of the Democratic Republic of Congo (DRC), and recognizes the disclosure requirements that this law imposes on SEC reporting companies in the US.

Both the Organization for Economic Co-operation and Development (OECD) and the United Nations (UN) have released broadly similar guidelines for company due diligence on minerals from conflict affected and high risk areas, and in the case of the UN, specifically for the DRC. The OECD guidance encourages companies to draw upon it when establishing their due diligence practices, and the guidance aims to promote responsible sourcing by incorporating the flexibility to allow trade to continue.

Our company has not, and will not purchasing cassiterite from the DRC and/or adjoining countries, since that is not part of our business model.

We also communicate this policy to our customers and publicly through other channels such as our company website.

This statement is effective from January 15, 2018.