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Santo Domingo.- Canadian Goldquest Mining Corporation yesterday announced the acquisition of the rights to explore for gold, silver, zinc and copper in eight concessions located in the country’s South and North regions.

Goldquest forged an alliance to acquire 100% of the Gold Fields Dominican Republic’s exploration portfolio in the country, according to the Goldquest website.

The concessions in the South are: las Tres Palmas; Jengibre; Loma Pedro Viejo and Comine, located in the valley of San Juan de la Maguana, whereas Piedra Imán, Cerro Dorado, El Toro, Santa Ana and Las Animas, are in the central provinces Sánchez Ramírez and Monseñor Nouel.

In 2001 Goldquest began the mining exploration through the concessions Los Ranchos and Maimón, in Sanchez Ramirez and renegotiated in 2006 when it a assumed more shares and agreed to invest US$5.0 million to increase explorations, although the concessions Las Animas, El Toro, Santa Ana and El Toro weren’t part of the agreement.

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COMMENTS
10 comment(s)
Written by: Perez, 7 Aug 2009 2:04 PM
From: Dominican Republic
What the Hell????? and how many percentage does it stays i DR?? I can't believe what the government is doing. But then again, he always sold our "Patria"
Written by: josean, 7 Aug 2009 2:06 PM
From: United States
PLD : El Partido de la Liquidación Dominicana!
Written by: xwill7, 7 Aug 2009 2:28 PM
From: United States, Chicago
What is happened in USA is going to happen in DR. So many jobs went overseas that now we want to bring them back home to create jobs. Don't sell out
Written by: HateroPardo, 7 Aug 2009 3:30 PM
From: Dominican Republic, America
gold? didn't these guys get the memo back in the 1500s...lol
Written by: brugalymamajauna, 7 Aug 2009 4:10 PM
From: Dominican Republic, Miami
thats incredible..........and sad / why would you drain your own country?

Written by: Ricardolito, 7 Aug 2009 5:41 PM
From: Dominican Republic, Boca de Chavon
You have not read this correctly . It says that Goldquest has acquired the the exploration rights .Normally the rights are acquired for money and a company then bears all the costs of exploration and if then it goes into production the company then pays a royalty for every ounce or ton of metal it produces. In this particular case, it appears that the exploration rights were held by another company, called Goldfields, a huge company ..and these rights were acquired by Goldquest.
There is nothing sinister or improper about this.
Written by: allumeuseGeneroso This user is banned, 7 Aug 2009 11:26 PM
From: Dominican Republic
Yes Ricard, the main points are that if all the resources are taken there will be nothing left for the next Dominican generation to survive on. In addition, will the exploration intensification lead to more environmental damage?

The moral point is that we are letting foreigners run our key resources, means of production and distribution (and pricing) as shown by the recent sell of the refinery, and now our metallic resources and our mountains and our geology? On key issues, we should never let capitalism dictate long term objectives and strategies! THAT IS THE DOMAIN OF THE TRUE DOMINICAN!
Written by: Perez, 8 Aug 2009 4:55 PM
From: Dominican Republic
lol!!! good one Josean!!!
Written by: Ricardolito, 8 Aug 2009 8:42 PM
From: Dominican Republic, Boca de Chavon
to allumeuseGeneroso ..what you say is true in all mining situations , not just here in the DR , eventually the country runs out of mineral resources and the next generation has to find revenue from other sources.As far as gold is concerned . the Spaniards believed they had found all the gold that could be extracted economically when they lost interest in the DR and moved to central America and Peru..but now the exploration is much more sophisticated . I personally think this country needs revenue now for all the improvements needed to move it from third world status
Written by: allumeuseGeneroso This user is banned, 9 Aug 2009 12:34 AM
From: Dominican Republic
Ricard, they will find all the precious metals DR have and nothing will be left!

We need to micromanage our resources and our demand so that we don't end up in a failed society like Haiti! Or like the Maya! No more ecocide!

The aim is not to move from third to second or first. The objective should be garanteed survival for decades and even centuries to come! Let the population, demands, and others to adapt! Don't overexploit! Restraint savage harvesting! Don't spend resources on people who take in more than they put back in!
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