Local March 1, 2013 | 7:30 am

Dominican president’s Barrick ultimatum concerns mines and oil sector

Santo Domingo.- Dominican Republic’s association of mines and petroleum (Camipe) on Thursday said president Danilo Medina’s ultimatum to Barrick Pueblo Viejo Corp. is cause for concern, because in its view, affects the entire mining sector.

It said it supports a serious dialogue to find a solution where the Dominican government and the mining company both benefit from the exploitation, and which allows Barrick to comply with the financial commitments that facilitated the investment in the project.

The Camipe said it’s a crucial time for the government to define its agenda regarding foreign investment, especially when global mining investors consider view Dominican Republic as a major destination, which can also contribute more than 6% to the GDP growth and boost exports above 20% in the short term.

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