Congo backs transparency in mineral trade

WASHINGTON, July 23 (UPI) -- Congolese officials backed a Washington measure to bring more transparency to the Congolese minerals trade, U.S. Secretary of State Hillary Clinton said.

An amendment to the financial overhaul signed by U.S. President Barack Obama this week requires companies registered with the Securities and Exchange Commission to disclose tax and revenue payments made to foreign governments.

The amendment says companies trading in the Congolese mineral sector need to disclose what steps they are taking to ensure their activity is not supporting so-called conflict minerals.

Clinton said through her office that the Congolese government supported the measure as part of a renewed plan to bolster bilateral ties with the United States.

She said that so-called conflict minerals have funded violence in the region that cost more than 5 million lives since 1998.

"This (amendment) is one of several steps we are taking to stop this illicit and deadly trade," she said in a statement released by her office.

She said the State Department was working with the international community as well and local and foreign industry groups to make sure the mineral trade is more transparent and conflict-free.

"All of these steps underscore the commitment of the United States to stand with the people of Congo and to work toward an end to this conflict," she said in her statement.