On July 21, 2010 The US Dodd-Frank Wall Street reform and consumer protection act was passed and signed into law. This law banned the import of untraced minerals ((tin, tantalum, and gold) from Congo to US listed corporations on the New York Stock Exchange. This law decreased considerably production of minerals in Eastern Congo as international buyers shy away from buying. As a result, an underground smuggling market was created thus putting legitimate business under considerable hardship.
SMB SARL embarked on a transparency scheme following OECD guidelines and CTC standards (certified trading chain) to comply with the Congolese law and international traceability requirements.
It has taken more than 2 years to work through various requirement and SMB SARL is proud to be one of the pilot project undertaken by BGR (Bundesanstalt fur Geowissenschaften und Rohstoffe) in conjunction with the government of Congo.
A baseline audit was necessary to check the chain of custody of mineral produced at SMB SARL concession legally obtained. This independent audit followed sets of compliances requirements that needed to be met.
1, Origin and volumes of minerals company mined, company payment of government taxes were required.
- The company had to prove it does not use child labor, pays fair salary to its employees, provide good working conditions, and protect the health and safety of all employees.
- Respect and protection of human rights.
- Company needs to consult with surrounding communities to the mine in contributing to their social and economic development and taking gender into account
- An environment impact assessment was done, by which hazardous materials are properly treated or disposed of.
- Non illegal mining allowed in the SMB SARL permit concession, such as armed groups , rather the company provides adequate and trained security forces(police de Mines) provided by the government of Congo .