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{
"id": 1518732,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1518732/?format=api",
"text_counter": 197,
"type": "speech",
"speaker_name": "Ikolomani, ODM",
"speaker_title": "Hon. Benard Shinali",
"speaker": null,
"content": "the gold sector in Kenya would enable the country to accumulate a gold reserve and eventually benefit from it. Gold reserves attract foreign exchange, contribute to financial stability, unify exchange rates, and contribute to the global influence a country has. Countries with gold reserves often have regulations governing the exploration, extraction and processing of gold. Those laws, just like the Gold Processing Bill, will address environmental protection, safety standards and permits that are required for mining operations. In Kenya, the Mining Act No.12 of 2016 provides for the exploration and extraction of gold, while the enactment of the Gold Processing Bill, 2023 would now provide a comprehensive law of gold processing. Increased revenue by regulating and formalising gold processing in Kenya would generate significant revenue from taxes, licences and royalties, as seen in the case of Sudan. The Bill also proposes value addition through gold processing locally. This will add value to our gold, thus increasing the earnings compared to exporting unprocessed minerals, specifically gold. It amounts to exporting our jobs as well. Further, a structured framework encourages both local and international investors to engage in gold processing and related industries. This Bill will create a conducive environment for financial and Government institutions to support gold mining activities in Kenya through funding facilities. The Bill will help us establish a framework to cap illegal gold transportation through our porous borders to black markets. The sale of gold to black markets makes us miss out on revenue and investment opportunities to create jobs for our citizens. With this Bill, the country can combat illegal gold mining, gold smuggling, and environmental degradation that can be a serious threat to our national security and environment. Lack of proper structures like cooperatives to bring together artisanal and small-scale miners has resulted in failure to give royalties to gold-producing areas. This leaves gold- producing areas impoverished, with little to no transformation. With the Bill, we are establishing a clear mechanism to track gold and get royalties back to gold-producing areas to spur socio-economic development, while enhancing the country's revenue to run Government initiatives across the country. The gold processing plants that are proposed in the Bill will stimulate the economy for job creation and skills development, especially for our youth. Job opportunities will be created in the gold processing plants. There will be research and regulatory bodies. Licencing requirements, as established under this Bill, mandate plans for training Kenyan citizens to build a skilled workforce. As we pursue development, the need for sustainable practices and initiatives for development cannot be over-emphasised. This Bill has set requirements for environmental and social impact assessments to minimise ecological damage. Similarly, mining companies and gold processing plants will be responsible for proper waste management and adhering to international standards that reduce harmful effects of gold processing. In conclusion, once passed, this Bill will help establish a structured, transparent framework for Kenya's gold sector that will undoubtedly boost our country's economic growth. This framework will enhance international competitiveness, economic growth, and enhance standards, thus strengthening our gold mining industry for long-term benefits. I strongly urge this House to pass this Bill to consolidate Kenya's position and competitiveness in gold mining, and bring the benefits to our communities in regions which are endowed with gold. With those remarks, I beg to move the Bill. I request the Hon. Member for Shinyalu, Hon. Ikana, to second. Thank you."
}