As reported in the Listin Diario, the executive vice president of Placer Dome, the Canadian mining conglomerate, told his audience at the monthly luncheon of the American Chamber of Commerce that the favorable investment climate and the democratic system of government were important factors in their decision to invest in the Pueblo Viejo gold mines in Cotu?. William Hays pointed out that exploration of the old Rosario Dominicana site is coming along at a healthy pace, and revealed that there are perhaps as much as 15 to 30 million ounces of gold available. At current prices, which are at a three-year high, this gold could have a value of US$1.1 billion.
Hays also told his audience that Placer Dome is not responsible for any past ecological damages made to the area due to the inadequate management of toxic wastes. He said the Dominican government assumed the responsibility for the environmental contamination that affects the area, describing the expenditures the government would have to make to remedy the problems as ?an important cost?.