Tungsten Dart Billet,Tungsten Dart Price

Dodd-Frank Act: Time to Develop a Compliance Strategy to Conflict Minerals

Details: Category: Tungsten's News; Published on Tuesday, 29 January 2013 11:06; Hits: 2460

Thousands of manufacturing companies across the nation, including many in Minnesota, are affected by the conflict minerals provision of the Dodd-Frank Act, but aren’t yet prepared to comply. For those still lacking a strategy, it’s time to act.

The provision and accompanying rules, adopted by the Securities and Exchange Commission last August, require that companies disclose whether products they manufacture, or contract to manufacture, utilize so-called “conflict minerals” from the Democratic Republic of Congo and adjoining countries.

These materials (tin, tantalum, tungsten and gold known as 3TG) are used in everything from cell phones to computers to medical equipment. So, Minnesota-based companies in health care devices, diversified industrials, electronics/communications and other manufacturing sectors are affected.

Under the rules, companies must compile data for calendar year 2013 (regardless of their fiscal year) and make their first filing with the SEC no later than May 31, 2014.

Congress included the conflict minerals provision in Dodd-Frank because of concerns that the exploitation of these minerals by armed groups is helping to finance conflict in the DRC region and is contributing to a humanitarian crisis. Congress believes that these reporting requirements will provide transparency for investors, causing companies to source responsibly from this region of the world, thereby curbing the violence.

Three steps to follow

Under Section 1502, Dodd-Frank mandates three steps for companies to follow:

    SEC-registered companies must determine if they have any exposure to 3TG.
    Determine, on a reasonable basis, if the 3TG minerals they use originated in the DRC or an adjoining country. If the metals did not originate in the DRC nations or are considered scrap or recycled, companies must report how they determined this in a new specialized disclosure form.
    If they do come from the DRC region — or if the source is unknown — companies must trace the supply chain for the source and furnish a conflict minerals report, which may be subject to an independent private sector audit on those due-diligence efforts.

Compliance costly

Without question, compliance will be costly. The SEC estimates it will cost affected companies a total of $3 billion to $4 billion in the first year, and at least $200 million each year thereafter.

If done correctly, however, this new compliance requirement could offer beneficial insights for companies as they gain more visibility into their supply chain. Some are already using this information to rationalize their supply chain operations and exert better risk controls over suppliers. While the timing is tight, and the upfront compliance costs could be significant, this could prove to be an investment that yields even greater savings over the long term.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com

W Resources Reveals More Strong Results from Tungsten Project

Details: Category: Tungsten's News; Published on Tuesday, 29 January 2013 10:01; Hits: 2493

W Resources revealed more strong results from its drilling programme on the La Parrilla tungsten project in south-west Spain.

These included an eight metre section at 0.29% tungsten trioxide, which is three times the average grade of the project.

The three holes in the latest batch of data are located between 200 metres and 640 metres from the main ore body and “continue the series of strong results from the extension drilling programme”.

The group is aiming to compile a JORC resource estimate for La Parrilla in the second quarter of this year and aims to be in production from the tailings at some point in the second half.

Chairman Michael Masterman said: "The board continues to be encouraged by the results on the extension drilling programme, with the process of further delineating a more significant increase in both the grade and tonnage of the resource at La Parrilla nearing completion.

“Drilling has been completed on budget and on schedule and we expect positive results from the re-estimation of the resources incorporating these results."

“With the final approval for the La Parrilla tailings project granted by the Mining Department of the regional authority of the Junta de Extremadura, the company is making good progress towards first production in the second half of the year.”

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com

Apple Appeals to Tungsten Suppliers Protecting Environment

Details: Category: Tungsten's News; Published on Monday, 28 January 2013 13:49; Hits: 2362

Nearly half of the 55 Apple suppliers including tungsten suppliers that underwent a focused environmental audit last year violated the company’s standards and were cited in the Institute of Public and Environmental Affairs pollution database, according to the tech company’s annual supply chain progress report.

Apple’s Supplier Responsibility Progress Report, a 37-page report detailing the results of audits covering labor, human rights, health, safety and the environment, found a string of environmental violations of its Suppliers Code of Conduct.

If a core violation creates serious impacts to the environment, Apple requires suppliers to shut down processes. The supplier is given 90 days to resolve the problem. Third-party experts, such as the IPE or local NGOs, validate the findings and any corrective actions taken by the supplier, Apple said.

Apple also has made a commitment to only use conflict-free minerals. The tech company has mapped its supply chain for conflict minerals and actively surveys suppliers to confirm their smelter sources. As of December 2012, Apple had identified 211 smelters and refiners from which its suppliers source tin, tantalum, tungsten or gold.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com

Geodex Engages Venture North for Investor Relations

Details: Category: Tungsten's News; Published on Tuesday, 29 January 2013 09:42; Hits: 2315

Geodex Minerals Ltd.(the "Company" or "Geodex"), a mineral resource company focused on New Brunswick, Canada. Geodex has continued to actively develop its exploration portfolio focused on the discovery of critical metals in New Brunswick. Its current main focus is the Dungarvon Tungsten-Molybdenum Project.

Geodex is pleased to announce it has engaged the services of Venture North Capital Inc. ("Venture North") to focus on marketing and strategic investor relations.

Under the terms of the engagement, which is for an initial three month term, Venture North will be paid $5,500 in the first month and $3,500 per month thereafter. The contact is subject to regulatory approval.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com

Ice Fishing - How about Try a Tungsten Jig

Details: Category: Tungsten's News; Published on Monday, 28 January 2013 11:33; Hits: 2433

Even though the forecast wasn’t good, there was a great turnout. The fish have been still going pretty good. We had a great weekend on Gull Lake with walleyes in 20-28 feet of water on shiners. The crappies haven’t been so cooperative yet. We did get some nice pike also.

Mille Lacs Lake is still producing big fish, doesn’t seem to matter where, everyone is doing good. There is still a good walleye bite on North Long and Round lakes. Rice Lake and South Long Lake have definitely slowed for a while. Sylvan Lake has started to put out some nice crappies and sunfish. Some of the other lakes like Cullen, Roy and Mission have also been putting out some panfish.

Ice fishing - When the panfish start to get finicky, try something new like a tungsten jig and a straightline reel, so your lure doesn’t spin. The fish really seem to like that. And with the heavy tungsten jig there is no need for a split shot, which will also improve your odds.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com