‘Conflict Minerals’ refers to minerals or other derivatives (specifically, Tin, Tantalum, Tungsten, and Gold, also known as 3TG) mined in the eastern provinces of the Democratic Republic of the Congo (DRC) and in the adjoining countries where the revenues of the 3TG minerals may be directly or indirectly financing armed groups engaged in civil war resulting in serious social and environmental abuses. In July 2010, the United States passed the Dodd-Frank Financial Reform & Consumer Protection Act, section 1502(b) requiring all US public companies and their suppliers to disclose the chain of custody usage of conflict minerals.
While Navatek is not subject to SEC reporting, Navatek fully supports this legislation and its position is to avoid the use of conflict minerals. Navatek does not procure 3TG minerals directly from mines or smelters; nevertheless, in order to comply with the applicable SEC rules and, just as importantly, to adhere to our company values, Navatek has begun to embark upon the process of working with our suppliers to ensure that no conflict minerals will be used in our products. Navatek is adopting standards in line with the EICC/GeSI and OECD Standard of Diligence, regarding our process to obtain chain of custody declarations from all Navatek sourced and managed suppliers ensuring transparency in our supply chain.
Navatek expects its suppliers to source materials from socially responsible suppliers.
Navatek expects all of its suppliers to comply with the Dodd-Frank regulation. Suppliers must pass this requirement through their own supply chain and determine the source of specified minerals. Suppliers who are non-compliant to these requirements shall be reviewed by our Purchasing Organization for future business.