ANNOUNCEMENT 18 Aug 2010In August 2010, the government of Dominican Republic announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
International Center for the Settlement of Energy Disputes. Corona Materials LLC vs. Dominican Republic. (see page 9)
On 18 August 2010, the Environmental Ministry of the Dominican Republic refused the preliminary approval of an investment project by Corona Materials over environmental concerns.
The state reason for the refusal was that the prospective aggregate mining project was situated within 30 meters of bodies of water. However, Corona Mineral contests that it is situated 700 meters away from the concerned bodies of water, while domestically-owned mines are located less than 30 meters from water sources.