We’re proud to support the SEC and the Dodd-Frank Act. Click to view the PDF version of our updated policy. The details of the policy are below.
In 2010 the President of the United States signed into law the Wall Street Reform and Consumer Protection Act, also known as the Dodd-Frank Act. This law enabled the Securities and Exchange Commission to enact rules requiring manufacturing companies to report the use of “conflict minerals” in their products.
Conflict minerals are tin, tungsten, tantalum and gold that are mined in the Democratic Republic of Congo (DRC) or one of the nine African nations that share a border with the DRC. For many years armed militant groups in this region have been engaged in civil conflict that has resulted in human rights abuses. These groups derive their funding through the control of the mines in the DRC region that produce conflict minerals. It is the goal of the United States to deny these groups the revenue from these mines.
Penn-Mar Castings will comply with the requirements of the Dodd-Frank Act and we expect our suppliers to do the same. We have actively and timely reported the presence of conflict minerals in our products through the use of the Electronic Industry Citizenship Coalition – Global e-Sustainability Initiative (EICC-GESI).
Penn-Mar Castings requires, in good faith, that our suppliers exercise reasonable due diligence in the evaluation of their supply chains for compliance with the Dodd-Frank Act and the Conflict Minerals rule. We require that our suppliers only source conflict minerals from smelters on the approved Conflict Free Smelters Program (CFSP) and report this information to our company on a regular, timely basis. Penn-Mar Castings reserves the right to end the purchasing relationship of any company that fails to comply with the requirements of the conflict minerals rule.
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