Abinader says Dominican Republic could begin rare earth exports in 2028
Santo Domingo.- President Luis Abinader highlighted the Dominican Republic’s mining potential during the Concordia 2026 Annual Summit in New York, saying the country has significant mineral resources, including gold and newly identified rare earth deposits.
Abinader said significant rare earth resources were discovered about three years ago and that the Dominican Republic has been working with the U.S. government on their exploration since 2022. He said the country expects to determine the size of the reserves by the end of this year.
The president emphasized the quality of the deposits and their strategic importance because rare earth elements are used in numerous modern technologies.
Dominican Republic eyes rare earth exports by 2028
Abinader said the government is working to industrialize the resources and develop domestic refining capabilities, an area in which China currently has a dominant position.
He highlighted the creation of the Dominican Mining Company (Emidom), a wholly state-owned company that will oversee the development of the resources. Abinader said the government expects to test a refinery using specialized technology next year and could begin exporting rare earth materials in 2028.
“From then on, I believe the first export will take place in 2028,” Abinader said.
He also highlighted a critical minerals agreement designed to establish conditions for competitive development and said the country will need technology, long-term financing and private-sector investment to build the industry.
The Dominican Republic signed an agreement with the U.S. Army Corps of Engineers in 2022 to receive support in exploring and developing the resources. Abinader identified refining technology as one of the region’s main challenges.
IDB and Colombia Support Regional Cooperation
Inter-American Development Bank President Ilan Goldfajn said the institution is prepared to support critical-mineral development in Latin America and the Caribbean through financing, technical cooperation and knowledge.
José Manuel Restrepo, Vice President of Colombia, also described critical minerals as strategic resources and called for investment, technology, workforce training and private-sector participation while maintaining sustainability.
The discussions at the Concordia summit focused on developing critical-mineral supply chains in the Americas and reducing vulnerabilities associated with the concentration of refining capacity in China.
