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Home > Diamond News Center > Diamond News > World

European Parliament Approves Due Diligence Law for Mineral Companies

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The European Parliament has approved an EU draft law “which provides for mandatory due diligence evaluation of companies trading in certain minerals imported from conflict zones or high risk areas”, Rough & Polished reports.

The law will be implemented starting from January 1, 2021, and will demand that all EU-based companies, “with the exception of the smallest importers” according to the report, “to evaluate the compliance of their suppliers delivering such products, as tin, tungsten, tantalum and gold, which, in particular, are used to manufacture computers, mobile phones and jewelry”. The evaluation will be mandatory for importers from "the conflict zones and high risk areas".

According to the statement released by the European Commission, the rules will cover up to 95% of imports as of 1 January 2021. The new regulation is yet to be approved by the EU Council.
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