With only weeks remaining until publicly traded US component manufacturers are forced by law to disclose their usage of conflict minerals to the federal government, a fair number of companies are set to miss the deadline for complying with new rules.
According to the latest survey, conducted by PricewaterhouseCoopers, only 4% of the 700 companies surveyed across 15 industries said they have completed a draft of their SEC conflict minerals filings.
A staggering 90% said is not even close to have a finished, the study shows, and they believe conflict minerals compliance "has proven more intensive" than anticipated.
Conflict minerals are defined as those mined in locations of armed conflict and human rights abuses. They —mainly tin, tantalum, tungsten and gold—are used in a wide range of components across the electronics supply chain.
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