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{
    "id": 1523020,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1523020/?format=api",
    "text_counter": 464,
    "type": "speech",
    "speaker_name": "Ikolomani, ODM",
    "speaker_title": "Hon. Bernard Shinali",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. As I reply, I emphasise that once enacted into law, the Gold Processing Bill, 2023, will provide the first ever regulatory framework for gold processing. It will streamline the gold processing sector and help our country to maximise on the benefits of this rare mineral. A vote for this Bill is a vote for its immense economic benefits. First, the Bill will help establish a framework to create jobs by capping illegal gold transportation through our porous borders to black markets, which has led to loss of jobs in our country. Secondly, the regulatory and formalising gold processing in Kenya will generate significant revenue from taxes, licences and royalties. This answers some of the questions that have been raised, that this corporation will fully depend on the Exchequer for its funding. We are only looking for the initial capital and it will be generating its own revenues, hence giving Kenya revenue as I have already indicated. In addition, the establishment of a clear mechanism to track gold and get royalties back to gold-producing areas will spur socio-economic development while enhancing the country's revenue to run various initiatives. As it is, it is not known where gold comes from. So, this Bill provides for the establishment of cooperatives in the local artisanal areas to identify and track back the royalties to where the gold was mined. The framework provided for in the Bill will also attract both local and foreign investment into the country's gold processing sector because there will be a proper framework where business can be done. The passage of the Gold Processing Bill will also institutionalise a robust regulatory and oversight framework to ensure that gold processing activities are conducted in a safe and environmentally friendly manner. The Bill establishes the Gold Processing Corporation that will be responsible for monitoring, compliance and enforcing regulations. This means that it will not be involved in transporting itself, but will be licensing institutions that are qualified to transport, and homogenise. For example, gold refineries will be the actual participants in these activities. This will mitigate against the loopholes that gold dealers have been exploiting at the expense of communities in areas with gold deposits and the country, which continues to lose revenue in the absence of a regulatory framework. The Mining Act 2016, which I participated in passing, should be reviewed. This Bill was sent to the Ministry, and the committee itself looked at it, hence getting this approval. The Bill will also benefit small-scale miners. As a House, we have dealt with issues where artisanal and small-scale miners across the country, who are at the bottom of the pyramid of our gold economy, have suffered for many years. They remain vulnerable to exploitation, illicit gold trafficking, counterfeit gold dealings and fraud. This Bill has the welfare of these small-scale miners in mind. It will protect their rights and interests by addressing illegal trading practices in gold, which denies the maximum returns from gold. The Gold Processing Bill will bring this to an end through the establishment of the Gold Processing Corporation as the regulatory body thereby securing maximum returns and encouraging investor confidence in Kenya’s gold sector. Establishing gold refineries and licensing, which is not provided for in the Mining Act 2016, will provide value addition to our gold. This means that jobs exported to Dubai and other areas will be domiciled in Kenya, and the youth and other participants in this field will get jobs. Further, once passed into law, the Bill will enhance returns to small-scale gold miners through value addition as opposed to the minimum gains that they have been making through The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}