Home / Business and Economy / Dominican Republic: Rare Earth Treasure Trove Found
Dominican Republic: Rare Earth Treasure Trove Found
28 Feb
Summary
- Over 150 million tons of rare earth elements identified.
- Minerals are critical for semiconductors and aerospace.
- Assessment of deposits to conclude by early next year.
The Dominican Republic has identified substantial rare earth deposits, potentially positioning it as a key global supplier of critical minerals. Preliminary studies indicate gross deposits exceeding 150 million tons of rare earth elements, vital for modern technologies.
President Luis Abinader announced a strategy to complete the assessment of these mineral deposits within this year and certify reserves by early next year. This timeline is crucial for enabling large-scale extraction and refining operations.
The United States has signaled strong interest in these deposits, located in the Pedernales province. U.S. officials have offered partnership in developing these resources, emphasizing their importance for future technological advancements.
Abinader linked the development of these deposits to a broader vision of energy transformation and the responsible use of natural resources. This strategy aims to enhance Dominican sovereignty, reduce external dependencies, cut emissions, and boost national competitiveness.
