Dominican Republic to Establish State Mining Firm

By Sarah Morland

(Reuters) – The Dominican Republic announced the creation of a state mining firm, Empresa Minera Dominicana S.A. (Emidom), to explore and exploit key mining resources, including rare earth minerals.

The presidency released a statement indicating that Emidom will conduct economic viability studies and manage the country’s natural resources. The firm will negotiate contracts and alliances with international entities, governed by a nine-member board led by the minister of the presidency.

Emidom will also oversee the Avila mining reserve in southern Pedernales province, bordering Haiti, which was identified for rare earth project exploration in 2018. According to reports, last year, U.S. military engineers collaborated with local authorities to assess the area’s viability.

Notably, the Dominican Republic houses Barrick Gold‘s Pueblo Viejo, the largest gold mine in Latin America and the Caribbean.