A Montreal-based mining company has announced plans to explore the mountains of northeastern Haiti for gold and copper.
Majescor Resources Inc. will explore the site in a partnership with Simact Mining Holding Inc., a Long Island, New York-based consortium of Haitian American investors.Majescor President Marc-Andre Bernier said Monday the company is encouraged by explorations that Eurasian Minerals Inc. is conducting at a nearby site.
Gold and copper were found in the Caribbean nation decades ago, but Haiti's instability and lack of infrastructure have discouraged investment.A Barrick Gold Corp. ( ABX - news - people ) site about 130 miles (210 kilometers) southeast in the Dominican Republic is estimated to contain 20.4 million ounces of gold.
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