Santo Domingo.- When the miner Cerro de Maimón hands over RD$24.8 million, or 5% of its net profit to the town where it operates next Monday night, Article 117 of the Environment Law will be complied with for the first time in the Dominican Republic
The municipal authorities will receive the funds as the legal percentage from the companies that exploit the natural resources in a ceremony slated for 7 p.m. in the Jaragua hotel, with president Leonel Fernandez expected to attend.
The Corporacion Minera Dominicana, subsidiary of Canada’s Globestar Mining Corporation, extracts copper and silver at Cerro de Maimón since 2008, after six years of ground studies and legal proceedings.
With 400 employees who earn a minimum wage of RD$15,000 per month, the operation spurred the creation of more than 1,700 indirect jobs.
By the start of December 2009, more the company had exported US$37 million in copper to China.
At the end of last year Cerro de Maimón technicians discovered a new copper sulfide deposit at Loma Pesada, in central Monseñor Noel province, with around one million tons of the ore.
Source: diariolibre.com
From: Dominican Republic, No Spin Zone
Bravo ! for your economic contributions to the DR
Written by: juanb, 20 Aug 2010 12:22 PM
From: Dominican Republic
This is a smaller version of Barrick Gold.
There's a lot to be said for this kind of investment. It provides improved lives for many.
The only question I have is; Where will this money go?
Written by: Atabey, 20 Aug 2010 12:37 PM
From: United States, NYC
Yes, Juanb, follow the money. But this is the right policy because the fruits are shared.
From: United States, FREEPORT, Long Island.... (Look, beyond the words)
Article 117 of the Environment Law will be complied with for the first time in the Dominican Republic <---------Sad to know....There is no such thing in DR, Justice doesn't exist in the Dominican Republic, just look at the way the president only fires the corrupt. Its hard to belive that Lee-FLEA studied LAW.......What a disgrace!!!!!
From: United States
BobbyJoe. It is sad.
They squeeze it out of another country, but internally their inbred entitlement mentality allows transparent corruption and complying to a law is unheard of.
What a bunch of losers.
Written by: ateo2010 
, 20 Aug 2010 1:55 PM
From: Dominican Republic, Owning Noobs
RD$24.8 million just that?. Well not bad for them since the only reasons they do this is to protect there stay in the area. "self investment".
Written by: martin, 20 Aug 2010 2:50 PM
From: United States, boston to S.P.M 23
they only care bout money but wat happen 2 us rivers dos company are destroyin DR
From: Dominican Republic, vieja Santo Domingo
It is interesting to read the change of tune now ,,and it is a pity that they do not post earlier postings about this company and similar ones with the usual number of people opposing it ,,,Of course there has to be an element of self protection and there has to be the normal promotion of this good act but thank goodness the company is there .
now, with an unusual amount of negativity from me , I wonder how much the profit actually was and how much the local company paid to the parent by way of management charges and fees before this published profit figure was released.
Written by: anthonyC, 20 Aug 2010 3:35 PM
From: United States
RD$24.8 million? Money wasted.
Written by: anthonyC, 20 Aug 2010 3:37 PM
From: United States
Written by: martin,
"they only care bout money but wat happen 2 us rivers dos company are destroyin DR"
Exactly what rivers are they destroying?
Remember that Barrick Gold has yet to turn over a single spade of earth yet.
From: United States
Barrick Gold is famous for being one of the 3 most hated companies in the world.
They got the gold mine for free
They are poisoning the Hatillo river and all the rivers close from them
They are famous for killing and sickening their own employees.
They are famous for the contamination and devastation wherever they go
As we can see there is no REAL benefits of this pricks to stay in D.R. with the exception of the congress people that got richer after aproving that contract in a rush .. Why don't they go out of Dom. Rep.
From: Dominican Republic, No Spin Zone
Chef Victor spewing eco terrorist rubbish returns to despoil the forum
From: United States
Blutarksky..I am against your extreme ignorance..Evene here in USA they 're not allow to work. by the federal government.
You can see a copy of that here:
http://www.business-humanrights.o....lawsuitreWesternShoshonetribesUSA They spread cyanide all over the place like presa de Hatillo. 2 days ago ( you didn't saw the news hum? )
Again.. I am against misinformation and ignorance of the people ..like you
From: Dominican Republic, No Spin Zone
Chef Victor cooking up a stew of misinformation for the masses again
Written by: anthonyC, 21 Aug 2010 4:25 PM
From: United States
ohhhvictor,
I have 1 simple question for you.
HOW CAN THEY BE POLLUTING ANY RIVER IN THE DR WHEN THEY HAVEN"T EVEN STARTED MINING YET?
Well?
Huh?
Answer!
From: United States
You answer that yourself..
Half of the miners are a peruvian crew. The chemistry department of UASD ( the state University) found a high level of cyanide on the water..
So, you are telling me that you are the first person in the world that believe what Barrick Gold say..A company that only deals with the denial of accusations all over the world
That sound like wining the stupidity championship
Written by: danny00, 21 Aug 2010 5:05 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
The only question I have is; Where will this money go?
U REALLY DONT KNOW?......
MAN IT GOES IN THE DEEP POCKETS.... AS ALL GOES IN
LA- LA LAND.
Written by: danny00, 21 Aug 2010 5:09 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
They are poisoning the Hatillo river and all the rivers close from them
HEY! I KNOW OF MANY DOMINICANS THAT POISION RIVERS JUST TO KILL THE FISH.
Written by: danny00, 21 Aug 2010 5:14 PM
From: United States, syosset, key west, santo domingo AND NOW THE GLOBE TROTTER
written by: martin, 20 aug 2010 2:50 pm
from: russia
they only care bout money but wat happen 2 us rivers dos company are destroyin dr
so what else is new? dont u think the dr is the perfect country for companys and people that as u say "only care about money? }
does any one in the dr care about any thing other then money and sex?
u notice i place money 1st. whats one or rivers when their is soooooooooooo much money to be made by the boys with the deep pockets.
Written by: anthonyC, 21 Aug 2010 6:51 PM
From: United States
ohhhvicky,
Barrick Gold hasn't started mining operations. That is a fact.!
They are cleaning up the mess left behind by the previous tenants(Which happens to be the Dominican Government) That is a fact!
So please explain to us how Barrick Gold is Polluting any rivers in the DR!!!
Please. Try to refrain from using anti-business group talking points.
Use FACTS!
Lets go! Come On. Let us all know!!!
Oh...And you asked...."you are telling me that you are the first person in the world that believe what Barrick Gold say."
Apparently the UN does as well. The United Nations Environmental Program (UNEP) to be exact.
In fact the only people who don't believe a great company like Barrick Gold are reactionary, anti-business, anti-capitalist Fascists like You!
From: United States
Hold up, I don't get it, the company had exported US$37 million dollars in copper correct? and DR is getting RD$24.8 million pesos, or 5%. Jajaja what a joke this is a real ripp off. Yeah destroy the country mineral resources and to top all of just get the change. Wake up Dominican they not just ripping off the country, they also doing the People of DR.
From: Dominican Republic, No Spin Zone
another expat Dominican looking for a free handout ......your mother called you Sunny cause you were so bright
Written by: Canuck_1, 23 Aug 2010 4:19 AM
From: Canada
Sunshine - Read the Article. They shipped USD $37 million worth of product. That is not their net profits. They are giving 5% of their net profits or RD 24.8 million. You must think that they pull the copper out of the ground and send it away. It costs money to mine it, process it and ship it. There is a huge difference between Total Export Revenue and Net Profits. The other thing that you are not looking at here if you read the article is that 5% is going to the town where it operates. I would think that the Dominican Federal government hasnt taken their chunk of the taxes or royalties at this point in time. Good on you Cerro de Maimon! Living up to your corporate responsibilities and this in addition to the work you have already done in the area of the mine. Paved roads and infrastruture as well as a ton of local jobs. I am a Canadian living in the DR. I only wish other large foreign companies would live up to their corporate and social responsibilities like you have.
From: United States, Orange County, California
nothing is free in this world. There are giving some money in order to gain the approval of the population to explode the rest of the resources available. Most of the money flies to Canada and we get whatever they want to provide us with. Of course Leonel will be there to get the money which will help him stay in power for another 4 years.
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There's a lot to be said for this kind of investment. It provides improved lives for many.
The only question I have is; Where will this money go?
BobbyJoe. It is sad.
They squeeze it out of another country, but internally their inbred entitlement mentality allows transparent corruption and complying to a law is unheard of.
What a bunch of losers.
now, with an unusual amount of negativity from me , I wonder how much the profit actually was and how much the local company paid to the parent by way of management charges and fees before this published profit figure was released.
RD$24.8 million? Money wasted.
Written by: martin,
"they only care bout money but wat happen 2 us rivers dos company are destroyin DR"
Exactly what rivers are they destroying?
Remember that Barrick Gold has yet to turn over a single spade of earth yet.
They got the gold mine for free
They are poisoning the Hatillo river and all the rivers close from them
They are famous for killing and sickening their own employees.
They are famous for the contamination and devastation wherever they go
As we can see there is no REAL benefits of this pricks to stay in D.R. with the exception of the congress people that got richer after aproving that contract in a rush .. Why don't they go out of Dom. Rep.
You can see a copy of that here: http://www.business-humanrights.o....lawsuitreWesternShoshonetribesUSA
They spread cyanide all over the place like presa de Hatillo. 2 days ago ( you didn't saw the news hum? )
Again.. I am against misinformation and ignorance of the people ..like you
ohhhvictor,
I have 1 simple question for you.
HOW CAN THEY BE POLLUTING ANY RIVER IN THE DR WHEN THEY HAVEN"T EVEN STARTED MINING YET?
Well?
Huh?
Answer!
Half of the miners are a peruvian crew. The chemistry department of UASD ( the state University) found a high level of cyanide on the water..
So, you are telling me that you are the first person in the world that believe what Barrick Gold say..A company that only deals with the denial of accusations all over the world
That sound like wining the stupidity championship
U REALLY DONT KNOW?......
MAN IT GOES IN THE DEEP POCKETS.... AS ALL GOES IN
LA- LA LAND.
HEY! I KNOW OF MANY DOMINICANS THAT POISION RIVERS JUST TO KILL THE FISH.
from: russia
they only care bout money but wat happen 2 us rivers dos company are destroyin dr
so what else is new? dont u think the dr is the perfect country for companys and people that as u say "only care about money? }
does any one in the dr care about any thing other then money and sex?
u notice i place money 1st. whats one or rivers when their is soooooooooooo much money to be made by the boys with the deep pockets.
ohhhvicky,
Barrick Gold hasn't started mining operations. That is a fact.!
They are cleaning up the mess left behind by the previous tenants(Which happens to be the Dominican Government) That is a fact!
So please explain to us how Barrick Gold is Polluting any rivers in the DR!!!
Please. Try to refrain from using anti-business group talking points.
Use FACTS!
Lets go! Come On. Let us all know!!!
Oh...And you asked...."you are telling me that you are the first person in the world that believe what Barrick Gold say."
Apparently the UN does as well. The United Nations Environmental Program (UNEP) to be exact.
In fact the only people who don't believe a great company like Barrick Gold are reactionary, anti-business, anti-capitalist Fascists like You!