The Petroleum Mining Chamber of the Dominican Republic (Camiperd) highlighted the key role of the mining sector in the national economy throughout 2024, despite global challenges. Mining has proven to help drive economic development, contributing significantly to exports, foreign investment, and tax collection.
In a statement, the institution highlighted that during the January-November 2024 period, the mining sector accounted for 1.4% of GDP and 5.4% of total industries, consolidating itself as a strategic pillar for the economy. In the last quarter, mining showed a remarkable recovery, driven by the increase in international prices, with a growth of 65.2% compared to the drop experienced in 2023.
Mining exports grew by 3.4%, accounting for 43.3% of national exports, thanks to the rebound in demand for gold, copper, zinc and precious metal waste.
In addition, mining continues to be a strong generator of foreign exchange, contributing 6% of the country’s foreign currency income and receiving 5% of foreign direct investment, with an injection of US$164 million in the January-September 2024 period. Labor and tax contributions
In fiscal terms, the government collected about $12,000 million pesos from the sector, 58% more than the previous year.
In the labor field, the mining industry continues to offer conditions above the national average, with an average salary twice as high as that of other industries, benefiting more than 7,180 workers.
Expectations for 2025
Looking ahead to 2025, projections indicate a stable outlook with growth expectations, supported by optimistic estimates on the price of gold, which could reach $3,000 per ounce, according to international analysts.
The directors of Camiperd, led by the chairman Pedro Esteva, met with Minister for Energy and Mines, Jeol Santos to celebrate the results.
Source:
