Letter of Thanks to Apple

Why should you
join us in thanking
Apple?

Apple is taking the first-mover risk to buy from the first ethical supply chain of Tantalum out of the Democratic Republic of Congo [DRC] and Rwanda.

The new supply chain (through Power Resources International) conducts in-person inspections at mines in the DRC and uses Low Earth Orbit Satellites and soon drones to verify the in-person inspections. This same supply chain includes the first refinery in Africa, which leaves more of the value creation on African soil for Africans.

Who is the Investor Alliance to Counter Trafficking [I ACT]?

I ACT is the voice of the counter-trafficking movement to the public markets, a coalition of investors who use their voice as investors to advance the fight against human trafficking through market-based solutions. The action Apple is taking is a great example of a market-driven solution that has potential to significantly improve the lives of many children, women, and men being exploited in the mining sector.

The genesis of this project stems from the Anti-Trafficking Investment Network [ATIN], who mapped Child labor in the DRC up to 105 companies in the S&P 500. Special thanks to the investment firms that sponsored the DRC study:

Letter

To:

Tim Cook and the Board of Directors of Apple

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CC:

Responsible Minerals Initiative CEO, Rob Lederer

Responsible Minerals Initiative Exec Dir for Responsible Sourcing, Jennifer Peyser

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Investor Alliance to Counter Trafficking 

550 Bailey Ave, Suite 160 

Fort Worth, TX 76107 

July 22, 2025

Subject:

Commending Apple’s Leadership in Ethical Sourcing and Market Innovation in East Africa

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As committed shareholders in Apple Inc., we are writing to express our deep appreciation and admiration for Apple’s exemplary work in forging an ethical and forward-thinking path in the sourcing of key minerals from East Africa. In particular, we commend Apple’s leadership in the Responsible Mineral Initiative and its efforts to bring transparency to the supply chain.

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As shareholders managing assets and holding shares of Apple stock we applaud your efforts to ensure that Apple’s supply chain reflects the highest standards of human rights and recognise your work with Africa’s only tantalum refinery, PowerX Ltd., and its vertically integrated mining operation, PowerM Ltd. in Rwanda.

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Their parent company, Power Resources International, has not only advanced responsible sourcing and introduced industrial mining practices, but has empowered local communities and built capacity across an often-overlooked region of strategic importance whilst developing an enhanced traceability mechanism, Original Evidence, which it has provided to Rwandan miners free of charge.

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We are especially inspired by Apple’s ability to be a pioneer customer of this safer and more sustainable supply chain and the groundbreaking platform that brings local miners, processors, and global buyers together under a transparent, ethical framework. Apple’s willingness to lead by example rather than wait for others to act has accelerated global interest in sustainable mineral sourcing and has sent a clear signal that ethical leadership and commercial success go hand-in-hand.

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We support Apple’s continued investment in ethical sourcing and we believe these investments strengthen the long-term value of the company, reduce material and reputational risks, and reflect the values of our global customer and shareholder base. As such, we enthusiastically support these efforts and encourage Apple to continue advancing meaningful, scalable solutions in its supply chains.

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The Investor Alliance to Counter Trafficking,

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Signature:

Eagle Freedom Fund (www.eagleventurefund.com) Wes Lyons | General Partner

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IACT 550 Bailey Ave.
Suite 160 Fort Worth,
TX 76107

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Sign the letter