In a move aimed at enhancing the sustainable extraction of strategic resources, particularly rare earth elements (REE), President Luis Abinader has enacted Decree No. 453-24 that creates Empresa Minera Dominicana, S.A. (Emidom), a state-owned public entity.
The new company seeks to take advantage of the rare earth findings in Pedernales. Science Direct recently published a report mentioning the karst bauxites in the region have recently received renewed attention for their potential as non-conventional REE sources.
According to Science Direct: “Karst bauxites from the Pedernales Peninsula in the Dominican Republic stand among the world’s richest in REE.“ The bauxite ore from two deposits from the bauxite district, Aceitillar and El Turco, are noted for their outstanding REE contents and contrasting mineralogy.
The Presidential decree establishes that the Dominican Republic is home to significant mineral resources, including rare earth elements critical for advanced technologies, renewable energy, and electronic devices. Sustainable management of these resources is pivotal for strengthening the nation’s technological and energy sovereignty, as well as driving economic, scientific, and technological development, says the decree.
Emidom will oversee and coordinate the exploration and exploitation of the country’s strategic mineral resources. Its responsibilities include conducting feasibility studies and consultancy to assess the economic viability of these projects. The decree establishes that the company will manage mineral fiscal reserves, such as the “Ávila” Fiscal Mineral Reserve in Pedernales, and has the authority to negotiate contracts and partnerships with international firms.
The establishment of Emidom is expected to foster technology transfer, develop specialized human resources, and create quality jobs. This initiative aims to promote inclusive and equitable socioeconomic development while emphasizing environmental protection and respect for local communities. The revenue from mineral exploitation is anticipated to fund infrastructure, education, and healthcare investments, contributing to the nation’s overall well-being.
Emidom will operate under the Ministry of Energy and Mines and will be governed by a nine-member board, chaired by the Minister of the Presidency. The company’s governance will adhere to transparency and best practice standards, ensuring its operations benefit the Dominican state and its citizens. The President appointed his former Minister of the Presidency, Joel Santos to be the new Minister of Energy and Mines during his second term.
Rare Earth Elements are in much demand for their use in advanced technology, including in smartphones, hard drives for computers, and in the development of batteries for electric cars.
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Presidency
Science Direct
21 August 2024