IBM, others report North Korea gold in their supply lines


Dozens of companies, including IBM and H-P (HPQ), found an unwelcome surprise in their supply chains in their search for "conflict minerals," part of the Dodd-Frank Act designed ferret out any connection to mines controlled by armed groups in the Congo: Many of their products contain North Korean gold.

IBM, for example, disclosed that the North Korean gold was used to make its memory storage systems.

North Korea’s central bank provides currency for the country and refines gold, but U.S. sanctions law bars importing materials from the country, even if it comes from deep within a supply chain.

"There is still a long way to go in understanding supply chains," says an attorney who deals with conflict mineral disclosures.

Other companies making the discovery included Ralph Lauren (RL), Rockwell Automation (ROK) and Williams-Sonoma (WSM).

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Comments (5)
  • Rinascimento
    , contributor
    Comments (1534) | Send Message
     
    North Korea has gold? why are we waiting for? let us go get it
    5 Jun 2014, 09:22 PM Reply Like
  • Graham Jervis
    , contributor
    Comments (398) | Send Message
     
    they need Applied DNA, $APDN products in their supply chain.
    5 Jun 2014, 09:31 PM Reply Like
  • anarchist
    , contributor
    Comments (1921) | Send Message
     
    Sorry Graham, I have no idea as to what your talking about?
    5 Jun 2014, 11:36 PM Reply Like
  • King Rat
    , contributor
    Comments (1546) | Send Message
     
    Of course they have gold. El Presidente is named Kim after all.

     

    Now if only North Korea had oil.
    5 Jun 2014, 09:39 PM Reply Like
  • deercreekvols
    , contributor
    Comments (9391) | Send Message
     
    Is Dennis Rodman considered "conflict material?"

     

    Just wondering when/if his bank account will be frozen.
    5 Jun 2014, 09:42 PM Reply Like
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