United States Legal Gold and Mining Partnership Act
Gold Mining: Fighting Illegal Trade in Latin America
This bill is currently in the early stages of the legislative process after being introduced in the Senate. It was recently sent to the Committee on Foreign Relations for further review. There are no upcoming votes scheduled at this time.
Legislative Progress
The bill has strong support from both parties and addresses national security concerns, but it may face delays as a standalone foreign policy bill.
Key Points
- This bill creates a new plan to stop illegal gold mining in Latin America, where over 70 percent of gold in countries like Colombia and Peru is mined illegally. It aims to stop criminal groups and drug cartels from using gold to hide money and fund their activities.
- The policy helps small-scale miners join the legal economy by offering them business loans and technical training. It specifically encourages miners to stop using mercury, a toxic chemical that currently poisons local drinking water and soil in mining communities.
- It targets the governments of Venezuela and Nicaragua by investigating their secret gold trades. For example, about 80 percent of gold in Venezuela is mined illegally to benefit Maduro, and this bill would help the U.S. block those involved from using American banks.
- The State Department would get $10 million over the next two years to start these programs. Part of this money will help create a system to prove gold is legal so American companies can be sure the gold they buy is mined safely and does not involve forced labor.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Read twice and referred to the Committee on Foreign Relations.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
United States Legal Gold and Mining Partnership Act
Data Sources
Sponsor
Cosponsors
(1)Analysis generated by AI. Always verify with official sources.