The European Union has agreed a deal to stem the flow of gold and other metals used to fund armed conflicts or produced in conditions that breach human rights.
EU importers of tin, tungsten, tantalum, gold and their ores will from 2021 have to carry out due diligence checks on their suppliers.
The legislation will also apply to smelters and refiners.
The rules will cover the minerals anywhere in the world, meaning they go further in scope than US Dodd-Frank legislation that is limited to the Democratic Republic of Congo and nine neighbouring countries.
However, the EU will only scrutinise imports of the raw materials, while the US law extends that to their use in products such as mobile phones, electrical goods and cars.