Energold Drilling Corp.

A willingness to think outside the box landed Energold a hard-to-get license in the Dominican Republic and profoundly altered its business.

Because previous mining initiatives had caused environmental damage in the country, the local government wasn’t keen on new projects. Then one of Energold’s geologists suggested using a more environmentally sensitive drilling rig comprised of smaller pieces. The rig could be assembled on-site to eliminate the need to clear forests and build roads to haul in equipment.

“Once we got the go-ahead, we hired a whole bunch of locals and we literally carried the small rig to the site and drilled the target,” says Energold president and CEO Frederick Davidson, who notes that in addition to environmental sustainability, the company is dedicated to involving and contributing to local communities.

Overseas market diversification, especially in resource-rich developing countries, was critical to the company’s growth and success. But building sustainable operations within developing countries can pose problems, particularly for smaller businesses that may lack the resources to establish local operations.

Export Development Canada recognized the potential of Energold, as well as its commitment to local communities.

“Energold is a key player in a sector where Canada is a leader,” says EDC Account Manager Raul Duque.