3D Resources Ltd (ASX:DDD) has been granted an ASX trading halt, as the company requested the pause to provide an update on the acquisition of the Haiti gold projects.

The projects have a combined resource of 740,000 gold ounces, and contained within that resource is a high grade core of oxide ore containing 420,000 ounces.

The halt will remain in place until the opening of trade on Wednesday 9th August 2017, or earlier if an announcement is made to the market.

Why Haiti

In 2014, the Haitian government together with the World Bank began drafting a new mining code that would help open the country to new foreign investment from mining companies.

This new mining code is currently in the final stages of going through the Haitian parliament.

Once signed into law, this new mining code will very likely see a rush of companies to explore and build sustainable and economic mining operations, as has happened in other countries which updated their mining codes.