The Dominican Republic has significant nickel resources and there are also gold, silver and some other minerals. However, the mining industry has so far no great significance for the economy. The energy needs have so far been largely covered by imported oil, but the electricity shortage is a major problem.
Nickel mining has long dominated the small mining industry and provided some export earnings. In the fall of 2012, however, two Canadian mining companies began extracting gold from a mine in Pueblo Viejo, which in the long term is expected to generate good income. The mine is considered one of the largest in the world and its operations represent the largest foreign investment project in the country. There are also assets on silver, copper and zinc. Salt is extracted near Lago Enriquillo and from seawater.
COUNTRYAAH: Major exports by Dominican Republic with a full list of the top products exported by the country. Includes trade value in U.S. dollars and the percentage for each product category.
There are major shortcomings in the electricity supply (see also Economic overview), as the electricity grid is poorly developed and maintenance is neglected. Long power outages and high electricity prices affect both companies and private individuals and on several occasions have led to popular dissatisfaction and social unrest. Many rely on their own generators or steal electricity through thieves.
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The Dominican Republic lacks its own major energy resources. For a long time, mainly oil was imported from Venezuela on favorable terms according to the so-called Petrocaribe program, but the uncertain economic and political situation in Venezuela has led to attempts to use other energy sources as well. In particular, a state / private joint venture has been invested in which two coal-fired power plants in Punta Catalina, despite protests from, among other environmental organizations, hope to increase energy supply by 20 percent. There are also plans to extract biofuel from sugarcane and from the jatropha oil plant.
A little over a quarter of the country is covered by forest, but logging is an environmental problem. Even unplanned construction is a threat to the environment, especially on the coasts.
