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Cuba’s Effort to Revive Mining Industry

Datetime: 2017-07-31 17:54:29

Cuba’s Effort to Revive Mining Industry

Cuba, a country with abundant and potential mine resources, earning its foreign currency by the the mine resources on the one hand, and on the other hand, this country mine exploit is abandoned and weakened by its recessed economy. However the good news is, a new lead and zinc mine northwestern Cuba will start production in October. This event of course will inject fresh air in Cuba’s mining s

"We are reviving the small and medium-size mining sector in Cuba from this investment," said Justo Hernández Pérez, Emincar deputy general manager, during a visit by foreign journalists on Thursday to the mine in the province of Pinar del Rio.

"This is just the start."

Many mines, including a gold mine at the site of the new Castellanos mine, were abandoned in the 1990s and 2000s in the wake of the fall of then key-ally the Soviet Union, the collapse of the economy and low commodities prices.

The Castellanos mine holds reserves for 11 years of exploitation, while the nearby Santa Lucia deposit has enough for another 10 years, Vila said. Emincar will go on to exploit that deposit, tweaking its factory accordingly, once the Castellanos mine is exhausted.

As the mining sector of Cuba come back on track, it will help to revive its economy. To attract more and more investment will be of great assistance to its economy and people’s livelihood . Helping them getting jobs and make them stand up for life.