As of 1 January 2021, new obligations from Regulation (EU) 2017/821, which regulates trade in four minerals – tin, tantalum, tungsten and gold – apply to the European Union. With the regulation, the EU aims to prevent the trade of these minerals from supporting armed conflicts and forced labor. Since the adoption of the regulation, companies that import these raw materials into the EU have been subject to extensive due diligence and auditing obligations along the supply chain.
As one of the largest importers of tin and tungsten in Germany, thyssenkrupp Materials Trading welcomes the full enforcement of the ordinance in the EU, as the company has already integrated the principles enshrined therein into its procurement policy since 2010. To this end, the management systems of the corporate structure have been adapted accordingly in recent years.
In the course of the risk assessment for its subsidiary thyssenkrupp Materials Trading, thyssenkrupp Materials Services has determined that it trades in the relevant conflict minerals.
thyssenkrupp Materials Trading is an internationally operating trading and service company headquartered in Essen, Germany. The product range includes raw materials such as alloys, nonferrous metals, minerals, coke, coal and ores as well as various raw materials for future technologies, metallurgical products such as steel and tubes, tube accessories, rolled steel and stainless steel as well as technical trading in new and used industrial equipment, machine tools, spare parts and construction elements for hydraulic steel engineering and the offshore sector as well as material and logistics services of all kinds. The range of services is completed by custom offerings, including financing and shipping.