Haiti - Mining and MineralsHaiti - Mining and Minerals
It has been reported that Haiti’s territory may contain significant deposits of silver, copper, and gold that could be worth billions. Nevertheless, the Haitian mining sector is dormant and has remained underdeveloped for many years. Recently, the government of Haiti designated the development of mining resources as one of the priority sectors that has the potential to contribute to Haiti’s economic development. To revitalize the sector, the Haitian government, with the assistance from the World Bank’s Extractive Industries Technical Advisory Facility, initiated new legislation to reform the mining law (convention system) that dated back to 1976. Under the current draft law, exploration permits and mining projects will no longer require the approval of the Haitian Parliament, but only authorization from the Prime Minister along with the Minister of Finance and the Bureau of Mining. However, the legislation is still pending in Parliament with no timeframe for passage.
Key obstacles include:
• The government of Haiti exercises legal authority over the extraction of revenue-generating natural resources, including mining, quarrying, sea and oil exploration.
• Inadequate infrastructure (e.g. roads, water, and power), land tenure issues, poor technology, and an inadequate legal framework jeopardizes the Haitian government’s ability to grant exploration and underground drilling permits.
|Total Local Production||**||**||**||**|
|Total Imports / World||1.95||1.38||1.32||1|
|Imports from the US||1.20||.925||.824||0.8|
|Total Market Size||11.93||6.90||3.55||3.82|
(total market size = (total local production + imports) - exports)
Several local companies are exploiting marble, limestone, and clay, as well as construction aggregates, but only a handful of firms, mostly foreign, are currently conducting surface-level exploration for gold, silver and copper. In recent years, several new companies expressed interest in the mining sector following reports of potential gold deposits, but Haiti’s outdated mining code does not provide an adequate framework for extensive investment in the sector.
A total of six firms operate in the mining sector: two U.S.-based companies, Newmont Mining, which holds preliminary prospect and research permits, and VCS Mining, which received permits to mine a gold deposit in the North department. Eurasian Minerals also holds a research permit. Majescor Resources, a Canadian firm, received a permit to mine a copper deposit in the Northeast and the government of Haiti issued prospect and research permits to two new Haitian companies, Sono Global and Caribbean General Trading. Although the Haitian government issued permits to all of the firms in 2012, none of them have begun commercial drilling because the Senate placed a temporary hold on all mining operations until the government of Haiti reforms the sector. There are still opportunities for foreign firms to seek exploration and extraction permits and licenses.Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
Mining Equipment and Machinery Trade Development and Promotion