Hisco Conflict Minerals Policy
It is Hisco’s intent to support our vendor partners' and customers efforts to comply with section 1502 of the Dodd–Frank Wall Street Reform and Consumer Protection Act. A number of Hisco vendor partners, have developed targeted communications regarding their corporate positions on the topic of conflict minerals. Customers should refer directly to the manufacturer for conflict mineral inquiries. Hisco representatives can assist customers in contacting manufacturers to obtain information, but in no situation should a Hisco representative make statements or claims on behalf of the manufacturers regarding their policies on conflict minerals.
Conflict minerals are minerals mined in conditions of armed conflict and human rights abuses, notably in the Democratic Republic of the Congo, by the Congolese National Army, and various armed rebel groups. Commonly mined minerals are cassiterite, wolframite, coltan, and gold, which are extracted from the Congo, and passed through a variety of intermediaries before potentially being purchased by multinational companies. These minerals are essential in the manufacture of a variety of devices, including electronics. Of particular relevance to Hisco, Cassiterite is the chief ore needed to produce tin, essential for the manufacturing of many solder products.
Section 1502 of the Dodd–Frank Wall Street Reform and Consumer Protection Act requires companies to verify and disclose their sources of cassiterite, wolframite, and tantalum. On July 15, 2011, the US State Department issued a statement - Section 1502(c) of the Law mandates that the State Department work in conjunction with SEC on certain elements of conflict minerals policy development and support.
Auditing and Reporting Requirements
Fundamentally, the US Conflict Minerals Law contains two requirements that are closely connected: independent third party supply chain traceability audits and reporting of audit information to the public and SEC. However, even companies not directly regulated by SEC will be impacted by the audit requirements because information/audit requirements will be pushed down through entire supply chains.