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Tantalum Producer Global Advanced Metals Responds to SEC Rules on Conflict Minerals
Thursday, August 23, 2012
Washington, DC — August 23, 2012 — Global Advanced Metals (GAM), a world leader in socially responsible production of tantalum, applauds today’s decision by the Securities and Exchange Commission (SEC) to approve rules regarding the conflict minerals section of the Dodd Frank Wall Street Reform and Consumer Protection Law.
“We are pleased that two years after its passage we can now move forward to implement this important piece of legislation and set of regulations,” said Andrew O’Donovan, President, Global Advanced Metals. “These rules are an important step in the right direction toward a “conflict free” supply chain, and we encourage any supply chain members who have delayed action until SEC rule clarification to now fully participate in this effort.”
GAM has been a strong proponent of this legislation and regulations that clearly define rules and timelines in order to instill a sense of urgency. CEO Bryan Ellis recently submitted a letter to SEC Chair Mary Shapiro requesting strict adherence to Dodd-Frank, along with a short phase-in period that is both socially responsible and financially feasible.
GAM owns the largest known ethical source of tantalum ore at its Western Australia based mines, and also has a smelting and processing operation which processes tantalum ore for the electronics, aerospace, automotive and other industries at their U.S. and Japanese-based facilities. In addition to its mines, they continuously source ethically produced “conflict free” tantalum raw material throughout the world for smelting and processing operations.
Industry organizations like the EICC and GeSI have worked to develop a comprehensive audit process to identify “conflict free” producers of tantalum and other “conflict minerals.” This allows SEC reporting companies to easily identify “conflict free” producers and suppliers through the EICC website. GAM was the first processor of any metal type to be audited and declared “conflict free” under this EICC/GeSI Conflict Free Smelter Program.