“Rwanda has made significant efforts to clean the mineral supply chain. 100 percent of the 3T minerals, tin, tantalum and tungsten, mined in Rwanda are traceable from the mine site up to the point of export,” Imena said while appearing before the Monetary Policy and Trade Subcommittee of the United States House of Representatives, in the US on Tuesday.

wpid-solid-minerals-300x192.jpg The hearing was entitled, ‘Dodd-Frank Five Years Later: What Have We Learned from Conflict Minerals Reporting?’
Section 1502 of the Dodd-Frank Act requires mining companies to disclose whether they source “conflict minerals”- tin, tungsten, tantalum and gold from the Democratic Republic of Congo and nine neighboring countries, including Rwanda.

These minerals are used in products such as cell phones and other electronic devices.

However, proceeds from the sale of the minerals have been blamed for financing rebels in eastern DR Congo.

Minister Imena described how Rwanda is working to ensure its minerals are conflict free, adding that the east African country has made great strides by developing a mineral traceability program, according to a statement.

“Rwanda has made significant efforts to clean the mineral supply chain. 100 percent of the 3T minerals, tin, tantalum and tungsten, mined in Rwanda are traceable from the mine site up to the point of export,” he said.

He decried the fact that Rwanda was lumped together with nine other countries under Section 1502 of Dodd-Frank.
“Putting them in one group and applying a ‘one size fits all’ regulation is not only an impediment to efficient implementation of the regulations, but fails to recognize the efforts made and challenges faced by individual countries,” Imena added.

According to the minister, given the costs associated with complying with the law and because there is no conflict in Rwanda, the law should not be applied to his country.

Rwanda had projected to earn up to 400 million U.S. dollars from mineral this year, up from approximately 150 million U.S. dollars in 2013, before prices depreciated on world market.

“Currently more money is spent complying with conflict mineral regulation than money spent for government taxes. We would like Rwanda to be considered as conflict-free because there is no conflict in Rwanda,” said the minister. Enditem

Source: Xinhua

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