In August 2012, the Securities and Exchange Commission (SEC) issued final rules implementing the Conflict Minerals disclosure provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. These rules require publicly traded companies to report annually on the extent to which the products they manufacture or contract to manufacture, beginning in 2013, contain conflict minerals sourced from non-conflict free certified mines in the Democratic Republic of the Congo (DRC) and surrounding countries. Conflict minerals include tantalum, tin, tungsten and gold, and are used in the manufacture of many electronic components including our semiconductor devices.
QuickLogic is committed to ethical business conduct and the responsible sourcing of minerals. We are working diligently with our suppliers to ensure compliance with the SEC regulations. The international supply chain for conflict minerals is complex and tracing these minerals can be challenging.
We support the efforts of the Responsible Business Alliance (RBA) and the Responsible Minerals Initiative (RMI) are making to address responsible sourcing of minerals. The Responsible Minerals Assurance Process (RMAP) has enabled companies to source conflict-free minerals. The RMI has developed implementation tools and programs including audit protocols for the tracking and elimination of conflict minerals in the global supply chain.
To support compliance with SEC regulations and conduct our own supply chain due diligence, we follow the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas. We use the industry standard Conflict Minerals Reporting Template (CMRT) to collect sourcing information from our suppliers as an element of our reasonable country of origin inquiry to verify the responsible sourcing of materials.
We expect our suppliers to have a Conflict Minerals Policy and establish their own due diligence program to ensure conflict-free supply chains. We require our suppliers to ensure that the parts used to manufacture our products originate from conflict-free smelters and refiners that have been validated as conformant to the Responsible Minerals Assurance Process (RMAP) assessment protocol and are publically listed on http://www.responsiblemineralsinitiative.org.
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