tag:blogger.com,1999:blog-1209670742820403516.post414046120132531226..comments2024-02-24T06:10:42.255-08:00Comments on Congo Siasa: So what does the conflict minerals bill actually say?Jason Stearnshttp://www.blogger.com/profile/11454449854081540397noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-1209670742820403516.post-38737812921320737462010-08-04T09:45:43.406-07:002010-08-04T09:45:43.406-07:00Laura -
Nope, that is a best-case scenario, but ...Laura - <br /><br />Nope, that is a best-case scenario, but here's what the bill says the State Dept's strategy should include: <br /><br />"Develop stronger governance and economic institutions that can facilitate and improve transparency in the cross-border trade involving the natural resources of the Democratic Republic of the Congo to reduce exploitation by armed groups and promote local and regional development."Jason Stearnshttps://www.blogger.com/profile/11454449854081540397noreply@blogger.comtag:blogger.com,1999:blog-1209670742820403516.post-63085317512446337112010-08-02T05:31:52.792-07:002010-08-02T05:31:52.792-07:00Bayless, the State Department has actually put out...Bayless, the State Department has actually put out a call for proposals for the mapping and sexual violence provisions. They did so in late June; closing date is Wednesday.texasinafricahttps://www.blogger.com/profile/05098411373776559793noreply@blogger.comtag:blogger.com,1999:blog-1209670742820403516.post-40134255638927460962010-08-02T05:30:50.615-07:002010-08-02T05:30:50.615-07:00Jason, can you give more reasons to support the op...Jason, can you give more reasons to support the optimistic view that this will result in a "best-case scenario" of investment in Congolese regulatory institutions? Correct me if I'm wrong, but the law doesn't provide any money to do so.texasinafricahttps://www.blogger.com/profile/05098411373776559793noreply@blogger.comtag:blogger.com,1999:blog-1209670742820403516.post-56499269724988805492010-08-01T16:42:53.372-07:002010-08-01T16:42:53.372-07:00And can someone please explain why the Dodd-Frank ...And can someone please explain why the Dodd-Frank law concerns the Congo specifically? How did that come about? Who got that done? And why just the Congo and not any developing nation?Vanessa Carmichaelhttps://www.blogger.com/profile/15826032113167364240noreply@blogger.comtag:blogger.com,1999:blog-1209670742820403516.post-54322127634064386962010-08-01T12:06:49.082-07:002010-08-01T12:06:49.082-07:00ACLU of Southern California Director, Roman Ripsto...ACLU of Southern California Director, Roman Ripston spoke on the new law at The Huffington Post on July 27th. She veers off of the new law and goes on to talk about The International Violence Against Women Act. (http://www.huffingtonpost.com/ramona-ripston/take-action-on-ivawa-now_b_660725.html)<br /><br />If you want to shine more light on the conflict in the Congo and raise more awareness of the struggle of there and the accomplishments of this new law, perhaps Mr. Stearns or someone else here should write an article on the Huffington Post--or a series of articles on the Huffington Post that are palatable to regular folks. <br /><br />The Dodd-Frank law in my eyes is a monumental step forward. Is there work left to be done? By all means but at least our government acknowledges that there is a direct correlation between our trade/financial regulation policies and conflict in the developing world. What those in power need is an informed electorate to keep the pressure on our government to legislate more responsibly and strategically to give people in the developing world a fighting chance. And THAT is where you guys come in. You need to speak more to people. I find the Huffington Post is a great place to start.Vanessa Carmichaelhttps://www.blogger.com/profile/15826032113167364240noreply@blogger.comtag:blogger.com,1999:blog-1209670742820403516.post-14153690036602917862010-07-30T08:41:56.525-07:002010-07-30T08:41:56.525-07:00Jason,
Any idea on who exactly is going to be in ...Jason,<br /><br />Any idea on who exactly is going to be in charge of putting these maps together?Billyhttps://www.blogger.com/profile/18300730928286957030noreply@blogger.comtag:blogger.com,1999:blog-1209670742820403516.post-63904095623977255732010-07-30T02:57:29.504-07:002010-07-30T02:57:29.504-07:00Overall, I also (grudgingly) support the Bill. Whi...Overall, I also (grudgingly) support the Bill. While I hate to be finicky, the details do matter. Some clarifications: <br /><br />• The bill requires disclosure of minerals (tin, tantalum, tungsten and gold) from the Congo or "adjoining countries", thus having potential ramifications for all of central Africa (yes, yes, even large-scale industrial mining in Tanzania, Zambia, Angola...). It also allows for the Secretary of State to determine additional "conflict minerals" to be added to the list without any legislative oversight. (However, as we all know, the State Dept has received such hell for this – in Kinshasa and elsewhere - that any future designation is unlikely.)<br /><br />• It is unclear to whom the bill would actually apply: those "persons" required to disclose annual reports under S. 13 of SEC 1934 AND where "conflict minerals are necessary to the functionality or production of a product manufactured by such person". Does this mean only those companies involved in, and downstream from, manufacturing?<br /><br />• The Secretary of State only has to outline a plan to provide due diligence guidance to companies, not provide guidance itself. <br /><br />As you noted, the Bill does not say what due diligence actually means. It is unlikely that the SEC would want to define this in any specific manner (to avoid potential conflict with other SEC conceptions of due diligence and to reduce the oversight burden). It is likely however that OECD and UNGoE conceptions of due diligence will be determined as "reliable" and noted in preambular language to the SEC regulations, as these will most likely become theUnknownhttps://www.blogger.com/profile/09316117693086257616noreply@blogger.com