Sierra Bauxita ponders withdrawal

摘要

Sierra Bauxita stops mining operations and considers exit from Dominican Republic following "expropriation" of stockpile by government. BAUXITE NEWCOMER, SIERRA Bauxita Dominicana SA (SBD), has stopped all exploration, mining, processing and sales of bauxite in the Perdernales region, south-west Dominican Republic after the government "expropriated" 35,000 tonnes of metallurgical and 3,000 tonnes of non-metallurgical bauxite at the port of Cabo Rojo. The stockpile was loaded onto a ship and left the dock on 25 October 2008, to destinations unknown to SBD. The company has not received payment, nor news of the shipment, and has laid off all its staff until the issue is resolved. Charles Speltz, vice president of SBD, told IM: "The shipment was worth about 300,000 dollars and we've already lost some large contracts after our customers heard what was going on."