Economy April 12, 2021 | 8:39 am

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Despite price lull, gold export to reach US$1.6B by year end

Santo Domingo.- Despite a decrease in the price of gold in relation to 2020, and an estimated reduction in gold production of 6% in relation to the past, the export of this raw material will reach US$1.6 billion at year end.

That represents about 100 million dollars fewer than what was exported in 2020, but even so this year will post the second-highest export, according to economist Henri Hebrard, taking as a reference the projections of Barrick Gold, of a 6% fall in production, from 903,000 ounces to an average of between 783,000 and 850,000 ounces.

“There’s a need of an expansion that this company has raised so that the country continues to benefit from the prices of this mineral.”

He highlighted that last year the export of gold buoyed the State, “in the midst of a global context of uncertainty in which the price of an ounce of gold cost up to about US$2.1 billion.”

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