Economy August 3, 2020 | 3:32 pm

Mining Director: “DR’s mining potential is a guarantee of economic relaunch”

Santo Domingo, DR

 

 

The mining general director, Alexander Medina Herasme, said that Dominican mining is ready to contribute to national economic development and to the recovery of the country’s economy, after the economic stoppage due to sanitary measures against COVID-19.

Medina Herasme spoke during the inauguration of new facilities for the management of mining concessions in the General Directorate of Mining, at a total cost of RD $ 15.8 million, which includes the Landble software, from the Trimble company, for the management of the Mining Cadastre from the Dominican Republic, which has been acquired at a cost of RD $ 12.3 million.

Also included is a new service room for mining concessionaires and citizens in the offices of the General Mining Directorate of the Juan Pablo Duarte Building and the remodeling of the Santiago de los Caballeros offices, at a cost of RD $ 3.5 million.

Medina Herasme highlighted the large tax contributions of Barrick Pueblo Viejo this year due to the increase in the value of gold and silver exports due to the increase in the price of gold that is quoted at US $ 1,940 a troy ounce, representing a 27% increase of price in the year 2020. Likewise, he highlighted the contribution of Falcondo due to an increase in the price of ferronickel, which is quoted at US $ 6.11 per pound.

The General Director of Mining also reported that copper exports will restart in the last quarter of the year, after completing the first phase of the Cormidom underground copper mine in Maimon, Monseñor Nouel.