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Santo Domingo.- Industry and Commerce minister Jose Ramon Fadul revealed that the company Barrick Gold plans to invest more than US$2 billion in the gold mine at Pueblo Viejo (northeast), which he said will create jobs and increase exports, in addition to the area’s social, ecological and health development.

He said the investment is an example of the country’s climate of confidence, which serves to motivate other international companies.

The official met with the Senate Hacienda Commission, which studies the amendment to the mining rights contract signed March 25, 2002, between the Dominican State, Rosario Dominicana, S.A. and Placer Dome Dominicana Corporation. Congress approved the original contract on August 26, 2002 and the amendment was submitted to the Senate last June 17.

Also in the meeting with Fadul were Mining director Octavio Lopez and Fernando Sanchez Albavera, CEO of Pueblo Viejo Dominicana Corporation.

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COMMENTS
7 comment(s)
Written by: FredCDobbs This user is banned, 3 Sep 2009 10:21 AM
From: Dominican Republic, Parque Colon statue of Anacaona
they are mulling how much they can steal or are they doing the peoples business
Written by: oupala07 This user is banned, 3 Sep 2009 10:35 AM
From: Canada
This is the result of going to bed with the IMF. They already have your nickel, it is the gold now. 2 billion investment, but on how many years those ten billions are going to be spent. The price of gold have skyrocketed, if the government can't make sure to secure, at least, a 30 forty joint venture in the deal, it will mean that the Dominicans people are being sucked.
They are privatizing everything, and they are ajusting the prices little by little to the international ones. I have noticed the same phenomenon in the carabean as in North America : the price of fuel and gas is never the same one week to the other. That leaves them with the opportunity to fixe the price at will the same way they are doing it here.
Every american citizen owes 25 500 dollars, how do you think you owe?
Written by: RobertoJose, 3 Sep 2009 1:25 PM
From: United States, FREEPORT,( The other Dominican Republic) Long Island....(We should be proud of our country not embarassed by it.)
Next Leo is going to sell the Brooklvn Bridge that is located in Santiago
Written by: FredCDobbs This user is banned, 3 Sep 2009 1:57 PM
From: Dominican Republic, Parque Colon statue of Anacaona
oupala you have eaten to much poutine the Canucks are leaving good money here
Written by: HiHater, 3 Sep 2009 4:42 PM
From: United States, Brooklyn, NY
"will create jobs and increase exports, in addition to the area’s social, ecological and health development."

Yes that cyanide/sulfur/mercury resulting from Gold extractions will be very good for the ecosystem and the local peoples health. The people will sure develop something health related, perhaps cancer? I guess it's all in the wording.
Written by: Bleu_raven, 5 Sep 2009 6:32 PM
From: Dominican Republic
yeah, it creates jobs, I just dontunderstand why we cant extract our own gold, without the help of Foreign companies.
Written by: The_Analyst, 7 Sep 2009 8:45 PM
From: United States, NY/NJ
Bleu_raven the reason for us outsourcing the mining work to foreigners is due to the deals with the IMF, their friends and associates get all of the juicy contracts and own everything of any real value in our country, they've already done this with other countries and are repeating it the same with us. If we had politicians who actually cared for the country this could have been avoided... oupala07 every American citizen owes approximately $38,900 each as a proportion of the national debt, that is the current amount.
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