Industry Trend Analysis - Gold: Future Still Looks Golden - MAR 2015
BMI View: G old output in the Dominican Republic will see further growth in the years ahead, though at a much slower rate than In previous years now that the Pueblo Viejo gold mine has achieved commercial production . Total output will also be boosted by smaller projects that will take advantage of the country's untapped resources.
The Dominican Republic remains a potentially high-growth frontier destination for gold exploration and development, as well as for silver and copper. Current production relegates the country outside of the world's top-ten gold exporters, yet the Dominican Republic is steadily becoming a major source of the precious metal. The largest current mine is the Pueblo Viejo joint-venture between Canadian firms Barrick Gold and Goldcorp. Barrick and Goldcorp have invested a combined USD3.8bn, with the former owning 60% of the project while the latter owns the remaining 40%. The mine produced approximately 1.10moz in 2014 after ramping up production in late 2013 and early 2014. For 2015, the two miners are targeting total production of 1.05-1.15moz. The joint-venture will be the Dominican Republic's largest exporter and, according to estimates, could add up to 2% to the country's annual GDP.
Smaller Players To Continue Exploration & Development
|Dominican Republic - Current Gold Projects|