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Supply Chain Assurance for Gold and Tungsten

Along with information regarding mineral source, is now often required by customers of gold and tungsten products. This is a result of section 1502 of the Dodd-Frank wall street reform and consumer protection act, passed in 2010.

Dodd-Frank requires that sec-listed companies publicly disclose if any of the gold or tungsten products they sell are not “conflict free.” Therefore, every business in the direct or indirect supply chain of sec-listed companies will need an assurance system to make this determination. They will also need to communicate their commitment to a responsible supply chain and details about their assurance system, to their customers.

Responsible Sourcing

Standards issued by the organization of economic co-operation and development (OECD). OECD is a non-profit unaffiliated agency that promotes economic and social well-being for people around the world. The JVC assurance system consists of several elements, including the creation of strong management systems to control the supply chain for conflict minerals, a risk assessment, and a management strategy to address any identified risks.

For many sellers of tungsten, gold, or products made from these minerals, the key to compliance is the ability to determine that the gold purifiers or tungsten smelters in their supply chain have implemented their own supply chain assurance system. JVC’s kit includes all necessary templates and guidance to make the required inquiries and assurances for both gold and tungsten. Because system requirements will differ depending on where a company is on the mineral supply chain and whether it is supplying gold or tungsten, JCV’s kit offers customized guidance and templates to meet the various supply chain obligations created by Dodd Frank.

The kit also includes an explanation – and examples – to help users determine their position on the supply chain and exactly which kit materials to use. Although the kit is designed as a “do it yourself” tool, JVC’s experts are available to help with the implementation process. JVC experts are also available for staff training and consulting.

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