Glencore Mine in Doubt After Dominican Park Bill Passes
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The future of Glencore Plc’s shuttered ferro-nickel mine in the Dominican Republic was cast into doubt after passage of legislation declaring the region surrounding the mine a national park.
The Senate approved a measure yesterday creating a protected area at Loma Miranda, home to the Falcondo mine. Glencore, led by billionaire Chief Executive Officer Ivan Glasenberg, called for “rationality” in decision-making on the mine’s future, the Baar, Switzerland-based company’s local unit said in a statement today.