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Dominican Republic is advancing the exploration of rare earths and the promotion of larimar, a semiprecious stone unique in the world, as part of a mining strategy that combines strategic resources with consolidated metal projects.
During the forum Sustainable Employment: Synergy between Mining, the Environment and Social Development, held in Panama City, the Dominican Republic’s mining director general, Rolando Muñoz, said: “We are evaluating an important rare earth deposit,” while the country maintains in its inventory “the Dominican gem, which is larimar.”
Larimar, known for its distinctive blue color and geological exclusivity, is part of the national portfolio along with amber and other industrial minerals amid rising global demand for gems and strategic resources.
The country has a diversified mining industry: in addition to new assessments of critical elements, long-standing projects operate, such as Pueblo Viejo, leased to Barrick International and with reported production in the presentation of around 750,000oz/y and 3.5Moz of silver; Falcondo, with five decades of iron ore and nickel production; and Cormidom, an underground copper, zinc and gold operation.
Muñoz highlighted figures that guide mining policy. The Dominican Republic has 47Moz of certified gold and, he said, for every US$100 in foreign investment, US$13.49 goes to the mining sector. On environmental matters, the country keeps 27.8% of its territory as protected areas where extractive activity is not allowed.
The presentation defended the sector’s role in the productive chain and the energy transition, with data on water use: mining consumes “only 2% of the country’s water” and mining water “is recycled up to 10 times.”Muñoz concluded his presentation by stating that “all nations have the right and duty to know what resources they possess and to assess them.” In his view, mining development must translate into human and regional development: “There is no environmental or social sustainability without the challenge of harnessing mineral resources.
“Source:Bnamericas.com”
