Luis Santana: “Changes in Dominican Regulations Facilitate Environmental Study of GoldQuest in San Juan”

New York: Mr. Luis Santana Pereyra, director of GoldQuest Mining Corp., based in Santo Domingo, Dominican Republic, recently commented that the company “GoldQuest” is pleased to announce that the recent changes in environmental regulations in the Dominican Republic will allow progress in the Feasibility Study and Environmental and Social Impact Assessment (ESIA) of its gold and copper discovery at the Romero project, located in the province of San Juan de la Maguana, in the southwestern part of the country.

“This regulatory change is expected to allow GoldQuest to conduct studies that demonstrate the environmental viability of our Romero project while addressing the environmental concerns of the province of San Juan. The company is funded to initiate a full Feasibility Study (FS), based on our existing Pre-feasibility Study (PFS), once the necessary approvals are obtained,” stated Santana Pereyra, CEO of GoldQuest, to the specialized newspaper Junior Mining.

GoldQuest is a Canadian mineral exploration and development company that has projects in the Dominican Republic. It is listed on the TSX-V under the symbol GQC. GoldQuest is financially positioned to complete the EIA (Environmental Impact Assessment) and DFS (Definitive Feasibility Study) and advance the development of its Romero gold and copper discovery within the Tireo geological formation.

The government of the Dominican Republic published Resolution No. 0038/2024, which establishes the management policy for environmental impact assessment and modifies Resolution No. 0025-2024, dated August 13, 2024. These changes in the environmental regulations of the Dominican Republic could be crucial for the final approval of the utilization of natural resources in one of the provinces most affected by extreme poverty and the mass migration of its inhabitants due to a lack of opportunities despite having enormous mineral wealth that will positively impact the lives of the people of San Juan.

The member states of the Intergovernmental Forum on Mining, Minerals, Metals, and Sustainable Development have received this significant change in the legal framework of the Dominican Republic’s mining policies.

Almost 4 billion Dollars Beneath the Feet of Extreme Poverty in San Juan

In March 2021, Dominican President Luis Abinader declared the province of San Juan de la Maguana in a state of emergency due to the “harrowing” levels of poverty affecting 69% of its population, a figure that is double the national average. According to official data, San Juan de la Maguana and Elías Piña have poverty rates of 68%, while the national average is 36%.

The president of GoldQuest reiterated that the company is considering investing RD$5 billion in San Juan for the San Juan Development Plan, which will create approximately 3,000 direct and indirect jobs. GoldQuest is awaiting permits to carry out environmental impact studies, which will determine whether the mining resource in San Juan is exploitable.

Ironically, while the people of San Juan face these hardships, an estimated 4 billion dollars in resources lie beneath their feet. This estimate comes from discoveries at the Romero deposits containing gold, copper, and silver. In the first stage, the Dominican government is expected to receive more than 1 billion dollars from these extractions.

Dominican legislation allocates a significant portion of these resources to municipalities and areas within the province of San Juan.

Furthermore, GoldQuest has stated that it will employ as much local labor as possible, with wages starting at 100,000 Dominican pesos, which would significantly boost the regional economy.