Mining boom will fuel growth in the Dominican Republic

Monday, January 19, 2015

Subject

Mining in the Dominican Republic.

Significance

Since 2013, the exploitation of the Pueblo Viejo mine has boosted gold production. Gold mining has benefited from high international prices and increased its importance in the local economy, in contrast to other sectors that have been hit by the global crisis, such as manufacturing and tourism. Nonetheless, mining also poses environmental risks for a country with weak state capacity.

Impacts

  • Concerns over environmental costs and negative impact on local communities could give rise to increased protests by civil society groups.
  • The diversification of the country's export structure remains a key pending task.
  • The mining boom will intensify efforts towards new commercial and technical exchanges with other Latin American and Caribbean countries.
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