President Luis Abinader said late Monday all work at the western Dominican Republic site would be suspended after mass protests.
The move stops development of Canada-based Goldquest Mining Corp's project and comes as trading in the company's shares is scheduled to resume on Tuesday.
Abinader said his administration had listened to community concerns with attention, respect and responsibility before ordering the suspension.
After protests crashed its stock, what is the survival plan for Canada's Goldquest Mining Corp?
With a $5 billion mine halted, can the Dominican Republic balance its economic goals with growing environmental activism?
Does this mine's suspension signal a new era of risk for mining investors across Latin America?