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US lawmakers crack down on Congo minerals trade

US lawmakers crack down on Congo minerals trade

U.S. lawmakers passed legislation Thursday aimed at cracking down on companies dealing in minerals that fuel the brutal violence in Congo.
The legislation would require companies doing business in Congo and neighboring countries to disclose the origin of any minerals it trades in as specifically as possible. The requirement would apply to any company listed on a U.S. stock exchange.
The legislation specifies four minerals believed to be funding the conflict, including gold and tin ore. It would give the Secretary of State the ability to expand the list.
The legislation was part of a broad financial regulation bill passed Thursday. President Barack Obama said he will sign the legislation into law.
U.S. officials and rights groups say armed militias in eastern Congo are forcing villagers to extract the minerals. They say profits are used to buy weapons and extend the cycle of violence that has ravaged the region for more than a decade.
Democrat Howard Berman, chairman of the House of Representatives Foreign Affairs Committee, called the legislation "a vital tool for alleviating the pain and suffering experienced by the people of the Democratic Republic of the Congo."


Updated : 2021-06-14 17:59 GMT+08:00