In 2023, concerns were raised by the U.S. Congress regarding the purchase of “conflict minerals” by U.S. companies. These minerals include tantalum (coltan), tungsten (wolframite), tin (cassiterite), and gold sourced from the Democratic Republic of the Congo (DRC) or neighboring countries, particularly from areas controlled by armed groups or used to fund conflicts.
Section 1502 of the U.S. Dodd-Frank Act requires publicly traded companies in the U.S. to disclose the presence of such minerals in their products or supply chains. As per the final rule issued by the SEC on August 22, 2012, companies must conduct “due diligence” to determine the origin and chain of custody of these minerals. This process must be independently audited, and a Conflict Minerals Report must be filed.
At Posh Jewelers, we are deeply committed to upholding a conflict-free supply chain. Our rigorous due diligence process ensures that we do not engage in any transaction involving metals that are identified or suspected to be conflict minerals.