Conflict Free Policy
We ensure that the tungsten under our control is responsibly sourced.
Our conflict free minerals policy is in line with full compliance to the Industry Code of Conduct, which is to avoid the purchase and/or the use of conflict minerals which directly or indirectly finance or benefit illegal armed groups in all over Africa including the Democratic Republic of the Congo or adjoining countries.
WOLTECH KOREA CO.,LTD follows OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, and the TI-CMC Conflict Mineral Council Framework, in the implementation of our policy. And we;
- Will work cooperatively with organizations and agencies such as Conflict-Free Sourching Initiative (CFSI), Organization for Economic Cooperation and Development (OECD), Tungsten Industry Conflict Materials Council (TI-CMC), International Tin Research Institute (ITRI), and International Conference on the Great Lakes Region (ICGLR) to establish credible and effective processes that isolate and eliminate non- ethical tungsten mining and trade, and allow continuation of legitimate activity in “conflict regions.”
- Have created a Woltech Purchasing Policy and Procedures to make sure that the tungsten we deal with is conflict free sourcing.
- Have a training session for following this policy and procedure.
- Have appointed a responsible individual for implementing and maintaining Woltech Purchasing Policy and Procedures.
- Will conduct regular site visits to assure that there is no dubiousness in the supply chain and make sure everything is in order.
- Will oblige our suppliers to follow the conflict-free sourcing requirement.
- Will support the ongoing efforts by relevant authorities that have the potential to ensure legitimate, socially responsible commerce and bring sustainable improvements in living conditions and economic stability in conflict-regions.
- Immediately discontinue engagement with suppliers who pose a reasonable risk be supporting conflict.
- Will comply with applicable legislation such as, the U.S Dodd-Frank Wall Street Reform and Consumer Protection Act (July, 2010), which encourages legitimate, conflict-free trade of minerals sourced from the Democratic Republic of the Congo (DRC) and the Great Lakes Region of Africa.
- Will ensure that all purchases from “conflict regions” such as the DRC, comply with the applicable requirements of the OECD Due Diligence Guidance for Responsible Supply Chains.
- Will require that all Woltech Shipments of tungsten containing material adhere to the appropriate domestic and international transportation regulations. Woltech advocates the tungsten Industry also complies with these international regulations.
- Will Communicate our ethical and sustainable sourcing policy to our suppliers, employees, customers and investors and perform internal monitoring of our performance to these standards.
WOLTECH KOREA CO.,LTD
Policy established: November 1, 2015
AN SANG HO