Iridium Communications Inc (IRDM.OQ)
24 Nov 2017
Latest Key Developments (Source: Significant Developments)
Oct 26 (Reuters) - Iridium Communications Inc
Iridium Communications Inc
Iridium Communications Inc - New U.S. sanctions a headache for companies linked to North Korean gold - Reuters News
Iridium Communications Inc:More than two dozen U.S.-listed companies have links to North Korean gold in their supply chains, according to regulatory disclosures reviewed by Reuters, potentially putting them at risk of penalties under tough new U.S. sanctions against Pyongyang's mining sector. - RTRS.A March 16 executive order by President Barack Obama allows the United States to blacklist anyone found to be operating in North Korea's mining sector or to have purchased metal from its government - even indirectly through a third-country supplier.The use of North Korean gold or other metals could open a company to millions of dollars in U.S. fines, criminal prosecutions and costly investigations.U.S. Securities and Exchange Commission (SEC) filings show 25 companies, including Pitney Bowes Inc, Winnebago Industries Inc and Iridium Communications Inc, disclosed in 2015 that their suppliers had used a gold smelter operated by North Korea's central bank.Gold is widely used in electronics, valued for its ability to conduct electricity efficiently. Reuters did not find links between firms and any other North Korea-sourced metals based on SEC filings.Another company that listed North Korean gold in its supply chain was Oregon technology company Radisys Corp.A spokesman said he was unsure of the company's ties to the North Korean refinery. The company uses gold to make electronics and would switch to another supplier if required by law, he said. Full Article
BUENOS AIRES, Nov 19 U.S. satellite communications company Iridium Communications Inc said on Sunday the last call from its device aboard a missing Argentine submarine was made at 1136 GMT on Wednesday, the day the vessel vanished.