"The rules we agreed upon today are a huge step forward in our efforts to stop human rights abuses and armed conflict financed by trade in minerals. I'm convinced that it will have real impact on the ground, for the people suffering from such conflicts. I sincerely hope that the EU model will now set an example for other countries to follow," said EU Trade Commissioner Cecilia Malmström.
Both the European Parliament and the Council have been working together to finalize the text, as the political understanding on the core elements of the Regulation were reached last June. The core issue in this case was to determine when and how the Regulation will apply to EU importers.
As agreed by the EU Institutions, the Regulation will be covered by due diligence provisions as of January 1, 2021 and is set to ensure sustainable sourcing for more than 95% of all imports of gold, tungsten, tin and tantalum to the EU.
Meanwhile, the Member States and the Commission will work to ensure necessary arrangements are set safeguard EU-wide implementation.
Measures will be deployed in order to provide support for importers, with an emphasis on small and medium-sized enterprises, combined with foreign policy actions and a range of development aid. This is to ensure the success of the Regulation along with its positive impact on the ground. The regulation will be officially adopted by both the Council and European Parliament.
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