Summary Box: SEC proposes reporting rules (AP)
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MINES, OIL AND MINERALS: The Securities and Exchange Commission is proposing new reporting requirements for public companies that operate mines, pull oil or gas out of the ground or use certain minerals from Africa in their products. The proposed rules flow from the financial overhaul law enacted in July.
NEW DETAILS: Companies that operate mines would be required to provide information on health and safety violations. Companies that produce oil, natural gas or minerals would have to detail all payments related to commercial development that were made to the U.S. or a foreign government. And companies that use so-called "conflict" minerals from Congo and neighboring countries would have to describe the research the company did to trace the minerals back to their sources.
CONFLICT IN CONGO: The idea is that stricter reporting rules would help curb the violence in Congo, where minerals are produced in mines controlled by rebel groups.
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