Sidney
11-30-2011, 02:10 PM
DR mineral wealth far from exhausted
Despite warnings from the UASD about fragile ecosystems and social sustainability, it appears that the country's mineral wealth is far from exhausted. According to an article in today's El Caribe, even after more than 500 years of exploitation, the country's gold, silver, copper and nickel reserves are valued at over US$57 billion, sufficient for the government to pay three times over the nation's foreign debt and come home with a lot of money in its pockets. And to this wealth must be added the very real treasure in salt, gypsum, marble, limestone, silica sand, feldspar, kaolin, and industrial clays that will contribute another US$5 billion, according to the General Directorate of Mining. Added to this is petroleum, which oozes from the ground in Azua, Enriquillo and Higuey, as well as natural gas in Montecristi and in the waters off San Pedro de Macoris. Mining director Octavio Lopez told El Caribe that "right now the flagship is Barrick Gold. They have an estimated life of 25 years with 22.4 million ounces of gold, 88 million ounces of silver and 400 million ounces of copper and 2.6 billion ounces of zinc."
And then there is Falconbridge and the Consorcio Minero Dominicano, both in the province of Monsignor Nouel. Falconbridge has estimated its reserves at 47.85 million tons of nickel and in the new stage they will take out 14,000 tons a year.
Despite warnings from the UASD about fragile ecosystems and social sustainability, it appears that the country's mineral wealth is far from exhausted. According to an article in today's El Caribe, even after more than 500 years of exploitation, the country's gold, silver, copper and nickel reserves are valued at over US$57 billion, sufficient for the government to pay three times over the nation's foreign debt and come home with a lot of money in its pockets. And to this wealth must be added the very real treasure in salt, gypsum, marble, limestone, silica sand, feldspar, kaolin, and industrial clays that will contribute another US$5 billion, according to the General Directorate of Mining. Added to this is petroleum, which oozes from the ground in Azua, Enriquillo and Higuey, as well as natural gas in Montecristi and in the waters off San Pedro de Macoris. Mining director Octavio Lopez told El Caribe that "right now the flagship is Barrick Gold. They have an estimated life of 25 years with 22.4 million ounces of gold, 88 million ounces of silver and 400 million ounces of copper and 2.6 billion ounces of zinc."
And then there is Falconbridge and the Consorcio Minero Dominicano, both in the province of Monsignor Nouel. Falconbridge has estimated its reserves at 47.85 million tons of nickel and in the new stage they will take out 14,000 tons a year.