The EU Commission has launched the online portal “Due Diligence Ready!” This portal is intended to help companies comply with the requirements of the EU regulation on conflict minerals. The regulation comes into force on January 1, 2021 and concerns the trade in gold, tin, tantalum and tungsten (the so-called 3TG) from politically unstable regions. EU importers and large EU companies (with more than 500 employees) using these minerals will then be subject to a mandatory due diligence obligation. This means that they should disclose their procurement practices for these minerals. The online portal offers a FAQ, a toolbox with practical resources for performing due diligence, a glossary of terms and a series of webinars.

The model for the EU regulation was the Dodd-Frank Act from the USA. Here, all stock-listed companies are required to prove whether they use 3TG and where it comes from.