In 2010, the United States passed the Wall Street Reform and Consumer Protection Act, also known as the "Dodd-Frank Act" after its initiators. Section 1502 of this law is aimed at regulating the use of so-called "conflict minerals" in the production chain. "Conflict minerals" are tantalum, tin, tungsten and gold, which are mined in the Democratic Republic of the Congo and neighbouring countries and the proceeds from the sale of which are directly or indirectly used to finance armed groups involved in conflicts in these countries. The Dodd-Frank Act requires U.S. companies to conduct a comprehensive supply chain audit and report to the U.S. Securities and Exchange Commission.
NLMK is not an American company and is not subject to direct control by the U.S. Securities and Exchange Commission. However, NLMK recognizes the importance of the goal set by the Dodd-Frank Law - countering the financing of armed groups that violate human rights – and contributes to its achievement by all means. In addition, we consider it our duty to help our customers meet all the requirements for disclosure of information about conflict minerals by monitoring the origin of raw materials and materials used for the production of our products.
NLMK would also like to encourage all participants in the supply chain to become aware of the need for cooperation in this area.