US rules on conflict minerals have not reduced violence in Congo, watchdog says
Adds comment from SEC in paragraphs 8-9
LUBUMBASHI, DEMOCRATIC REPUBLIC OF CONGO, Oct 7 (Reuters) -A U.S. congressional watchdog has found no evidence that a 2012 Securities and Exchange Commission (SEC) conflict minerals disclosure rule has reduced violence in Democratic Republic of Congo, it said in a report on Monday.
Armed groups continue to fight for control of gold mines in the east of the Central African country, the U.S. Government Accountability Office said in its report.
It also said the rule - which requires some companies to report on their use of tantalum, tin, tungsten and gold - has likely had no effect in neighbouring countries.
"GAO found no empirical evidence that the rule has decreased the occurrence or level of violence in the eastern DRC, where many mines and armed groups are located," the report said.
"GAO also found the rule was associated with a spread of violence, particularly around informal, small-scale gold mining sites," it said, adding that gold is the most difficult to trace, and easiest to smuggle, of the four minerals covered by the rule.
Congo is the world's top producer of tantalum, which is considered a critical mineral by the United States and the European Union.
The report added that "the SEC disagreed with some of GAO's findings and raised concerns about some of its methodology and analyses." The GAO said it made certain adjustments that did not materially affect its findings.
“As the agency noted in comments shared with GAO, SEC staff has serious concerns about the report, including that it makes assertions and reaches conclusions that rest on several erroneous factual assumptions, draws causal inferences that are not supported by GAO's statistical analyses, and deviates significantly from the GAO's previously issued reports," the SEC said.
"GAO had not shared its final report with the SEC until today, so staff is reviewing it to determine if and how GAO addressed the SEC's concerns," it added.
Last year, GAO said that some U.S. companies buying minerals from Congo and its neighbours were failing to meet disclosure requirements.
On Sept. 30, Bintou Keita, head of the U.N. mission in Congo, told the U.N. Security Council that M23 rebels in the east are generating $300,000 per month in revenues in a coltan-mining region they seized earlier this year.
Reporting by Yassin Kombi; Additional reporting by Sonia Rolley; Writing by Portia Crowe; Editing by Aurora Ellis
Últimas noticias
Descargo de responsabilidades: Cada una de las entidades de XM Group proporciona un servicio de solo ejecución y acceso a nuestra plataforma de trading online, permitiendo a una persona ver o usar el contenido disponible en o a través del sitio web, sin intención de cambiarlo ni ampliarlo. Dicho acceso y uso están sujetos en todo momento a: (i) Términos y Condiciones; (ii) Advertencias de riesgo; y (iii) Descargo completo de responsabilidades. Por lo tanto, dicho contenido se proporciona exclusivamente como información general. En particular, por favor tenga en cuenta que, los contenidos de nuestra plataforma de trading online no son ni solicitud ni una oferta para entrar a realizar transacciones en los mercados financieros. Operar en cualquier mercado financiero implica un nivel de riesgo significativo para su capital.
Todo el material publicado en nuestra plataforma de trading online tiene únicamente fines educativos/informativos y no contiene –y no debe considerarse que contenga– asesoramiento ni recomendaciones financieras, tributarias o de inversión, ni un registro de nuestros precios de trading, ni una oferta ni solicitud de transacción con instrumentos financieros ni promociones financieras no solicitadas.
Cualquier contenido de terceros, así como el contenido preparado por XM, como por ejemplo opiniones, noticias, investigaciones, análisis, precios, otras informaciones o enlaces a sitios de terceros que figuran en este sitio web se proporcionan “tal cual”, como comentarios generales del mercado y no constituyen un asesoramiento en materia de inversión. En la medida en que cualquier contenido se interprete como investigación de inversión, usted debe tener en cuenta y aceptar que dicho contenido no fue concebido ni elaborado de acuerdo con los requisitos legales diseñados para promover la independencia en materia de investigación de inversiones y, por tanto, se considera como una comunicación comercial en virtud de las leyes y regulaciones pertinentes. Por favor, asegúrese de haber leído y comprendido nuestro Aviso sobre investigación de inversión no independiente y advertencia de riesgo en relación con la información anterior, al que se puede acceder aquí.
