NewsWhore
02-04-2011, 12:10 PM
The resumption of operations at the Falconbridge mine in Bonao is expected to bring a series of economic and social benefits to the country. The additional exports will certainly help the public finances and contribute to a stable exchange rate. The president of the Dominican Chamber of Mining, Luis Rafael Pellerano, said that exports by Falconbridge would be added to the Dominican Mining Corporation's copper exports and the future exports of gold by Barrick Gold this October. Pellerano said that total export value for the country would increase by some 25% as a result.
Falconbridge started its operations in 1972. In 2008, the company announced the closure of its mining and smelting operations due to the increasing cost of operations fueled by the increasing cost of oil and decreasing ferro-nickel prices. Oil prices increased from US$54 dollars a barrel to over US$100 dollars and the price for a pound of nickel on the commodity exchanges fell from a high of US$16.49 to US$11.28. While over 900 people were let go from the workforce of over 1600, the Falconbridge operation was designed to be able to restart on very short notice. Falconbridge has continued to supply electricity to the National System.
More... (http://www.dr1.com/index.html#5)
Falconbridge started its operations in 1972. In 2008, the company announced the closure of its mining and smelting operations due to the increasing cost of operations fueled by the increasing cost of oil and decreasing ferro-nickel prices. Oil prices increased from US$54 dollars a barrel to over US$100 dollars and the price for a pound of nickel on the commodity exchanges fell from a high of US$16.49 to US$11.28. While over 900 people were let go from the workforce of over 1600, the Falconbridge operation was designed to be able to restart on very short notice. Falconbridge has continued to supply electricity to the National System.
More... (http://www.dr1.com/index.html#5)