Sponsors (2)
Introduced February 27, 2025 by John Cornyn · Last progress February 27, 2025
The bill strengthens U.S. ability to disrupt illicit gold networks, improve supply-chain transparency, and support formalization and environmental protections abroad — but does so at the cost of increased federal spending, higher compliance burdens and potential short‑term harm to artisanal miners, along with risks to due process and diplomatic friction.
U.S. consumers, taxpayers, and financial institutions will face reduced exposure to illicit gold as the bill strengthens detection, tracing, and sanctions against illicit gold networks, improving supply-chain integrity and reducing risk that U.S. markets finance criminal or terrorist groups.
U.S. importers, downstream businesses, and consumers benefit from greater transparency, due diligence, and certification efforts that lower the chance of tainted gold entering supply chains and reduce reputational and compliance risks.
Artisanal and small-scale miners in partner countries gain training, licensing, financing pathways, and technical assistance that create clearer routes to formal, legal livelihoods and potentially higher, more stable incomes.
U.S. importers, traders, banks, small businesses, and ultimately consumers will face higher compliance costs and potential increases in prices due to tighter sanctions, reporting requirements, and certification obligations.
Artisanal miners, small-scale operators, and vulnerable rural and indigenous communities abroad may be displaced or lose income if formalization, certification, or market restrictions exclude those who cannot meet new standards, exacerbating poverty in the short term.
Individuals and businesses designated under sanctions or targeted through asset-tracing may face asset freezes, reputational harm, and limited transparency or judicial recourse, raising due-process and privacy concerns.
Based on analysis of 9 sections of legislative text.
Directs a U.S.-led strategy and partnerships to combat illicit artisanal gold mining in the Western Hemisphere, boost due diligence and traceability, support sanctions and AML, and authorize up to $10M.
Creates a U.S.-led, multi-year strategy to disrupt illicit artisanal and small-scale gold mining (ASM) and related trafficking across the Western Hemisphere by strengthening due diligence, traceability, law enforcement cooperation, and targeted financial actions. It directs the State Department to coordinate with federal partners and regional governments, build public–private partnerships for responsible sourcing, require a classified briefing on Venezuela's illicit gold activities, and authorizes up to $10 million for implementation over two fiscal years.