The Mineral Development Policy (MDRP) of 2013 was dictated by a number of important developments that have taken place since 1995 when the Government last reviewed and articulated its policy direction for the mining sector. The most significant development was the transfer of ownership of the mining industry to the private sector following completion of the privatisation of the mining industry in March 2000.
With an estimated $24 trillion worth of untapped mineral wealth in the ground at today’s prices, the Democratic Republic of Congo (DRC) has the potential to become rich beyond imagination. The country’s mineral resources include cobalt (world’s largest reserves, holding more than 45% of overall reserves), copper (world’s second largest reserves after Chile, at 70 million metric tons), diamonds, gold, zinc, uranium, tin, silver, coal, manganese, tungsten, cadmium and crude oil.
Bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica lays Panama, a country of less than 4 million people inhabiting a territory roughly the size of South Carolina. While these statistics may not conjure the image of a mining giant, Panama’s future impact on the global mining scene should disprove this theory.
Panama is in fact home to one of the largest undeveloped copper deposit worldwide in terms of recoverable reserves. The project will be the largest initiative in the country since the construction of the Panama Canal and the open pit mine is expected to become the largest ever-developed in Central America.
Istanbul – Long described as a “bridge between civilisation” by locals and travellers alike, Turkey has now developed into the sixth most popular tourist destination worldwide, attracting 34.91 million tourists in 2013 alone.
Giant infrastructure projects including a plan to built the world’s largest airport in Istanbul and extensive urban renewal and restoration plans are expected to further boost the rapidly growing tourism sector, with the exciting push partly driven by profile risers such as Istanbul being named in 2010 as European Capital of Culture.
Santo Domingo – The Dominican Republic occupies the eastern two thirds of the island of Hispaniola, which it shares with Haiti. The arrival of the Spaniards in 1492, as part of Columbus first expedition to the Americas, marked the beginning of the exploitation of the island’s rich gold and silver reserves. However, these reserves were soon depleted and other goods such as sugar began to shape the Dominican Republic economy until the 1950’s, when large scale exploitation of ferronickel and gold began again, with the opening of the first open pit gold mine in 1975.
MANAGUA, NICARAGUA – At a global level, artisanal and small-scale mining (ASM) includes 20 million to 30 million people with three to five times that number indirectly supported by their activities; that is 10 times more people than large-scale mining. Yet governments and mining companies seem to have largely neglected this sector, focusing on ASM’s negative impacts rather than on addressing its challenges to improve the sector’s opportunities for sustainable development.