The Ministry of Energy and Mines (MEM) has sent to the Executive Branch its proposed bill for increased government participation and oversight in mining projects in the Dominican Republic. “This is a historical bet on an unprecedented win-win mining model to exploit the riches of the subsoil,” said Minister Antonio Isa Conde.
The Ministry of Energy and Mines says it has been circulating the bill among stakeholders, mining experts and academics since September. Some 1,150 observations have been received. The intention is to produce legislation to promote sustainable mining in the country.
The bill contemplates the creation of a National System for the Distribution of State Mining Revenues. A portion of the revenues from mining would be allotted to sustainable development projects in the country.
The preliminary draft presents a new institutional mining framework, regulations regarding qualifications, licenses and concessions, invalidity regime, expiration, extinction of rights, the fiscal and economic regime, the protection of the environment, the closure plan and the regime of infractions and sanctions for this industry.
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Ministry of Energy & Mines
18 December 2017
