As a dependable member of the international community, the Ryoyo Group is committed to responsible mineral procurement. We extend this commitment to our upstream supply chain partners as well.
For over a decade, gold, tantalum, tungsten, tin, and other “conflict minerals” mined in the Democratic Republic of the Congo and neighboring countries have been used to fund armed conflict in that region. Human rights violations have also occurred during the extraction of these minerals.
In 2010, the United States established the Dodd-Frank Act with the aim of abolishing the use of conflict minerals. This act requires companies listed on US stock exchanges to disclose information regarding their use of conflict minerals.
While this act does not apply directly to the Ryoyo Group, the Group supports the law’s goal of protecting human rights. Accordingly, the Group recognizes this law via two different activities. First, we are addressing this issue throughout our supply chain by asking business partners to avoid using conflict minerals. Secondly, we cooperate with conflict mineral inspections of products delivered to companies subject to the Dodd-Frank Act.
In light of the growing movement toward responsible mineral procurement, the Group is cooperating with supply chain surveys, including those targeting the use of cobalt from conflict-ridden and high-risk areas. Accordingly, we support procurement that helps prevent environmental destruction and human rights violations.
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