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While not as widely discussed as conflict minerals regulated under Section 1502 of the Dodd-Frank Act, organizations are increasingly becoming concerned about the presence of certain minerals, such as cobalt and mica, in their products or processes due to their association with social and environmental issues.
Cobalt, for example, is often mined under conditions that raise concerns about labor rights, including child labor and unsafe working conditions. Mica, similarly, is linked to issues such as child labor, particularly in regions like India where it is extensively mined.
While there may not be a specific regulation akin to Section 1502 for these minerals, many organizations are taking proactive steps to address these concerns. They may engage in responsible sourcing initiatives, conduct due diligence in their supply chains, and collaborate with suppliers to ensure transparency and ethical practices.
In absence of a standardized reporting framework like the CMRT for conflict minerals, organizations may develop their own reporting mechanisms or participate in industry-wide initiatives aimed at addressing the responsible sourcing of cobalt, mica, and other minerals. As awareness of these issues grows, organizations are increasingly recognizing the importance of considering the social and environmental impacts of their mineral sourcing practices.
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