Dominican Rep. suspends mining permit applications
The Dominican Republic suspended the granting of new mining permits to allow time for an overhaul of regulations.
The energy and mines ministry said no mining exploitation permits will be issued for 90 days and applications for new exploration concessions will not be accepted for six months.
"During this time the ministry will focus on updating and supplementing the process of evaluating mining concessions, with the aim of establishing an adequate legal framework for the current times," the ministry said in a statement.
Existing exploration and mining licenses and exploration applications already on the public register will not be affected, it added.
Exploitation applications by existing small miners which are in the process of regularization will also not be impacted.
UPDATES
The 90-day suspension of new exploitation permits will allow time for a new mining concession contract to be drawn up.
The changes are aimed at creating a modern, agile and transparent permitting system, the statement said.
"The state is the owner of underground resources and we hope this will be a win-win situation in which investors gain but the state also receives corresponding benefits," energy and mines minister Antonio Isa Conde said.
The ministry warned in April that 58 of the country's 128 exploitation concessions risk being canceled for failing to comply with regulations.
AFFECTED PROJECTS
Permitting-stage projects in the Dominican Republic that could be delayed by the suspension include GoldQuest Mining's Romero gold-silver-copper asset.
CEO Julio Espaillat was recently quoted as saying by local daily El Nuevo Diario that he was confident the ministry will approve a mining permit for the project.
GoldQuest did not immediately respond to a request for comment by BNamericas.
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