DOMINICAN REPUBLIC
| Key Facts | |
|---|---|
| Population | 9 Million |
| Language | Spanish |
| Capital | Santo Domingo (population: 2.4 million) |
| Topography | Mainly mountainous/maritime tropical climate |
| Political System | Representative democracy, modeled after USA |
| Leader | President Leonel Fernandez (took power August 16, 2004 |
| GDP | US$ 77 billion (2006) |
| Currency | Floating: about 34 pesos to the US dollar (May 2006) |
| Industries | Tourism, agriculture, mining, light manufacturing |
The Dominican Republic is a mining friendly jurisdiction which is blessed with some of the world’s most prospective geology for precious and base metals exploration. The country hosts the world class Pueblo Viejo gold-silver deposit containing 20.4 million ounces of gold (proven and probable) currently being developed by partners Barrick Gold Corporation, Goldcorp Inc. and the Falcondo Nickel laterite mine owned by Xstrata. GlobeStar Mining Corporation is
also developing the Cerro de Maimón copper-gold deposit which should achieve
commercial production in 2009.
The Dominican Republic occupies the eastern two thirds of the Island of Hispaniola in the eastern Caribbean. The country has an area of 48,000 km2 and a Spanish-speaking population of which 2.4 million live in the capital city of Santo Domingo, located on the South Coast.
The Dominican Republic achieved independence from Spain in 1844 and now is operating under a constitution of 1966. The Dominican Republic has a multi-party political system, similar to the United States, with national elections every four years. They have a representative democracy with a President and a Vice President elected for a four year term, a 120 member Chamber of Deputies elected by popular representation and a 30 member Senate, one representative per province or district.
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