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SANTO DOMINGO.- For the first time in history Dominican Republic began exporting copper to China this year via the Caucedo Multimodal Port, of US$37.51 million.
Dominican Republic Export and Investment Center (CEI-RD) director Eddy Martinez said by exports of US$50 million are expected from the new copper mine by yearend and will help that sector, whose losses this year totaled US$650 million, but weren’t compensated with the increase in exports of traditional products.
The Canadian company Globe Star exports the copper to China, after it began to extract the metal for the first time in Dominican Republic, in Cerro Maimón, Monseñor Noel province (central).
Mining director Octavio Lopez said the copper mined also contains some gold and silver. He said an estimated of around 25 million pounds of copper will be produced this year, and will be consumed mostly by China.
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US $37.51 plus $50 million more projected with the new copper mine export to China.
AHH ! I could see it now GREENCRAP protesting the destruction of the Dominican forest.
One has to ask........Does this mean no more money making fund raisers for the poor of the DR ?
Second sentence doesn't make sense at all! I Think what the author is trying to say is that the whole Mining Sector lost USD $650 million exports when Falcondo closed down and that there were no other exports to make up for the difference that is missing from the mining sector. Looks like the author had one too many thoughts explode on the page.
Perhaps authorities should consider confiscation of copper wiring and subsequent sale of same to Chinese from all caught stealing electricity. Income derived thereof could be used to pay down electric bill debt. Perhaps such extreme measure would knock some sense into these thieves, bring theft to grinding halt.
MJEV.
Thanks for the correction,
Why do you think I call them Greencrap, there always looking for a cause.