S.799 - United States Legal Gold and Mining Partnership Act (119th Congress)
Summary
S.799, the United States Legal Gold and Mining Partnership Act, aims to combat illicit gold mining in the Western Hemisphere through a multi-year strategy. The bill directs the Secretary of State, in coordination with other federal agencies, to develop and implement this strategy. It focuses on disrupting links between illicit actors and artisanal mining, preventing environmental damage, and countering the financing of illicit activities related to gold mining.
Expected Effects
The Act will likely lead to increased scrutiny and regulation of gold mining activities in Latin America and the Caribbean. It could also result in sanctions and other punitive measures against individuals and entities involved in illicit gold mining. The Act also seeks to promote responsible sourcing and due diligence in gold supply chains.
Potential Benefits
- Reduced funding for transnational criminal organizations and terrorist groups.
- Improved environmental protection in mining regions.
- Enhanced labor conditions and human rights in the artisanal mining sector.
- Increased transparency and accountability in the gold trade.
- Strengthened international cooperation in combating illicit activities.
Potential Disadvantages
- Potential for increased costs for businesses involved in gold sourcing and trade due to enhanced due diligence requirements.
- Possible negative impacts on legitimate small-scale miners if formalization processes are overly burdensome.
- Risk of unintended consequences from sanctions, such as harming local economies.
- The strategy's effectiveness depends on the cooperation of foreign governments, which may be limited in some cases.
- Potential for increased bureaucratic overhead and administrative costs.
Constitutional Alignment
The bill's focus on international cooperation and regulation of commerce aligns with the federal government's powers enumerated in Article I, Section 8 of the Constitution, which grants Congress the power to regulate commerce with foreign nations and to make all laws necessary and proper for carrying out these powers. The Act does not appear to infringe on any specific individual rights or liberties protected by the Bill of Rights.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).