Proceeds from the mining of certain minerals in the
Democratic Republic of Congo (the “DRC”)
and countries adjoining it have been linked to violations of human rights
through the funding of illegal armed
groups. in accordance with the
Dodd-Frank Wall street Reform and
Consumer Protection Act (the “Dodd- Frank Act”), the United States Securities and Exchange Commission (the “SEC”) requires
publicly traded companies to report on the origin of these
conflict minerals. This policy is consistent with the Code of Business Conduct and Ethics which clearly states
the strong commitment to ethical business principles by “PARADISE WIRES LTD”.
Conflict Materials
Conflict Minerals: Refers to columbite
-tantalite (coltan), cassiterite, gold, wolframite , or their derivatives; or
any other mineral or its derivatives
determined by the secretary of state
to be financing conflict in the Democratic Republic
of the Congo or an adjoining country. (3TG)Tantalum, tin, tungsten and gold are
the widely accepted derivative metals
to be of interest at present and are the current focus of the EiCC-Gesi
conflict free smelter certification program.
DRC Adjoining
Countries: Are countries that share an internationally recognized border
with the Democratic Republic of the
Congo. The following countries are currently recognized as “adjoining
countries”: Angola, Burundi, Central African
Republic, Congo Republic
(a different nation than DRC), Rwanda, south sudan, uganda and Zambia.
DRC Conflict Free: As
defined in section 1502 of the Dodd-Frank Act, “a product may be labeled as
‘DRC conflict free’ if the product
does not contain conflict minerals that directly or indirectly finance or
benefit armed groups in the Democratic Republic of Congo or an adjoining country.”
Conflict minerals
obtained from recycled or scrap sources: Conflict minerals obtained from
recycled metals are reclaimed
end-user or post-consumer products or scrap processed metals created during
product manufacturing. Recycled
metals include excess, obsolete, defective and scrap metal materials containing
refined or processed metals that are
appropriate to recycle in the production of tin, tungsten, tantalum or gold.
Minerals partially processed, unprocessed or a bi-product from
another ore are not included in this definition.
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