The Mejía government authorized the restart of negotiations leading towards the holding of an international tender to choose the international mining company that would exploit the Pueblo Viejo sulfide resources. In 1997, the past Fernández administration had secured the services of Salomon Brothers to carry out the tender. This projected eight-month process which was advertised in the Wall Street Journal suffered innumerable delays until it was interrupted when participating companies abandoned. An explanation was never given publicly re why that tender went awry. Rumors abounded that the bid was stopped over differences on who would pick up for the bill for the ecological damage already done. Others indicated that the tender would make transparent past corruption related to the mine affecting influential persons. Several major companies had opened offices in Santo Domingo and invested millions to participate in the bid for what is considered a world class gold mine. Now the Mejía administration wants to pick up the project again. Studies show that sulfide ore reserves are estimated at approximately 30 million ounces of gold. Gold production from the oxide reserves during the period 1975-1992 totaled five million ounces of gold and 22 million ounces of silver. The exploitation of the underlying sulfide reserves requires the application of mining technologies able to process the metallurgically complex refractory ores. The winner of the contract would get the exclusive rights to exploit the gold reserves of Pueblo Viejo over a long-term period. Studies show the mine has a 30-year life span. The Listín Diario says that 12 companies have shown an interest.
