Post by account_disabled on Mar 13, 2024 3:43:16 GMT -5
The central justification for the creation of Bill No. as stated in its explanatory memorandum is the existence of legal “loopholes” that would allow the “heating” of illegally produced gold. As a consequence of this reality current legislation would promote illegal mineral exploration thus causing socio-environmental and humanitarian problems. The objective of the project is therefore to inhibit illegal extractive practices and the violations that these practices subsidize. In this sense there are reasons to praise the text especially for its immediate intentions which are to prevent the illegal extraction of gold the subsequent introduction of this ore into the legal market and the destruction of natural heritage and deterioration of the living conditions of original peoples.
To this end the PL clarifies that gold produced under CG Leads the mining permit regime PLG can only be sold to a financial institution article caput and that only the holder of the PLG cooperative or prospector or his legally authorized representative constituted and registered in the ANM system can make this sale article . Thus the project imposes obligations on the seller the first acquirer financial institution and all those who operate in the market also creating correspondingly tasks for public bodies and entities active in mining. These new obligations are the core of the PL as they create instruments whose purpose is to improve monitoring and control capacity in order to restrict spaces for the legalization of illegally produced minerals avoiding the so-called “heating”.
Despite the need for regulatory evolution the legislative discussion needs to include the essential elements of the conversation when it comes to illegal mineral extraction as a whole and the financial asset gold market itself.
This is because limiting the discussion on “control of origin purchase sale and transportation of gold in the national territory” to mechanisms for controlling the first sale and transportation of gold produced under the mining permit regime as does the PL in comment only partially contributes to the organization and rationalization of gold mining in Brazil since as is known miners and purchasers of gold from PLG already have documentary obligations that provide the authorities with essential information for monitoring the origin of the gold. gold a model that can and should be improved but which does little to improve if supervisory bodies are not equipped with tools and people capable of capturing and using this information.
To this end the PL clarifies that gold produced under CG Leads the mining permit regime PLG can only be sold to a financial institution article caput and that only the holder of the PLG cooperative or prospector or his legally authorized representative constituted and registered in the ANM system can make this sale article . Thus the project imposes obligations on the seller the first acquirer financial institution and all those who operate in the market also creating correspondingly tasks for public bodies and entities active in mining. These new obligations are the core of the PL as they create instruments whose purpose is to improve monitoring and control capacity in order to restrict spaces for the legalization of illegally produced minerals avoiding the so-called “heating”.
Despite the need for regulatory evolution the legislative discussion needs to include the essential elements of the conversation when it comes to illegal mineral extraction as a whole and the financial asset gold market itself.
This is because limiting the discussion on “control of origin purchase sale and transportation of gold in the national territory” to mechanisms for controlling the first sale and transportation of gold produced under the mining permit regime as does the PL in comment only partially contributes to the organization and rationalization of gold mining in Brazil since as is known miners and purchasers of gold from PLG already have documentary obligations that provide the authorities with essential information for monitoring the origin of the gold. gold a model that can and should be improved but which does little to improve if supervisory bodies are not equipped with tools and people capable of capturing and using this information.