Through Decree number 453-24, the President of the Republic, Luis Abinader, ordered the creation of Empresa Minera Dominicana, S.A. (Emidom), a public entity with sole state capital, whose purpose is the exploration and exploitation of the country’s strategic mining resources, particularly those related to rare earths.
The Dominican Republic has significant potential in mineral resources, such as rare earths, which are essential for the production of advanced technologies, renewable energies, and electronic devices. The sustainable use of these resources is crucial to strengthen the country’s technological and energy sovereignty, in addition to contributing to economic, scientific and technological development.
Emidom’s objectives
Emidom, as part of its functions, will be in charge of executing and coordinating the exploration and exploitation of the country’s strategic mining resources, as well as carrying out studies and consultancies to determine the economic viability of these projects. In addition, it will manage fiscal mining reserves, such as the “Ávila” Fiscal Mining Reserve in Pedernales, and will be able to negotiate contracts and alliances with international companies.
Impact on the economy and national development
Emidom’s incorporation will promote the transfer of technology, the training of specialized human resources and the creation of quality jobs. This will foster inclusive and equitable socioeconomic development, with a focus on environmental protection and respect for local communities. It is also expected that the revenues generated from the exploitation of mineral resources will be used to drive investments in infrastructure, education and health, contributing to the overall well-being of the country.
Governance and transparency
The new company will be attached to the Ministry of Energy and Mines, and will have a nine-member Board of Directors, led by the Minister of the Presidency. Emidom’s governance standards will follow the principles of transparency and best practices, ensuring that its operations are carried out for the benefit of the Dominican State and society as a whole.
This decree reinforces the government’s commitment to the sustainable and responsible development of the nation’s natural resources, ensuring that their use contributes to the country’s economic and social progress.
Source:presidencia.gob.do
