1998News

M.I.M protests delay of gold mine bid process

Alejandro Losada, general manager of M.I.M. Holdings Limited, an Australian firm that has bid for the Rosario Dominicana gold mine exploitation, denounced that sectors with influence within the government seek to delay the bid in order to continue benefitting from the present situation. He said the company has decided to maintain their bid, but close their office here upon the announcement that the Central Bank would delay the process another six months. He said the company has already invested over US$14 million in its bid. The Central Bank delegated the process to Salomon Brothers, but the bidding process has not gone as scheduled, due to sectors that apparently favor one or another sector and feel by delaying the process they will be favored. The Central Bank Governor Hector Valdez Albizu announced yesterday at the American Chamber of Commerce that the winner of the bid would be known in six months. The three remaining contenders for the exploitation of the sulphide deposits in Cotuí are from Canada, the United States and Australia. Henry Kissinger has visited with President Fernández on behalf of the U.S. firm.