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Commodities  |  February 28, 2013 09:29:05

Dominican Republic wants to increase mining taxes


President of the Dominican Republic D. Medina said yesterday that will require higher taxes for miners quarrying. Barrick and Goldcorp operates the country's newly opened Pueblo Viejo mine, which has reserves in the share of the 12 companies, respectively. 16%. Medina argued that out of every 100 USD revenues from gold production has Dom. Republic only 3 USD in taxes and fees, and that this number should be increased. The intention to raise taxes in the country is talking about for over a month. Barrick CEO Sokal said that the agreement on charges of exploitation can not be unilaterally changed.

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