WASHINGTON – The Securities and Exchange Commission voted yesterday to propose new regulations implementing a recent law requiring specific disclosures concerning products that may contain so-called conflict minerals from the Democratic Republic of the Congo or adjoining countries.

The minerals in question include columbite-tantalite (coltan and tantalum), gold, wolframite (tungsten) and their derivatives.

Companies would be required to file a report if conflict minerals are necessary for products they manufacture or contract. Annual reports would have to be disclosed if the minerals originated in the DRC or an adjoining country. Disclosure would be available on a firm’s website, and records would be maintained demonstrating that conflict minerals did not originate in the DRC countries, if that were the case.

Conflict mineral reports would include a description of company measures and chain of custody. Firms would be required to exercise due diligence in determining whether their conflict minerals are recycled or scrap.

Comments on the regulations are due Jan. 31.

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