On January 7, Mr. Nguyen Minh Hieu, acting Chairman of the People's Committee of Dien Ban town (Quang Nam), signed a decision to cancel the results of the auction of mineral exploitation rights for the DB2B mine in Dien Tho commune, Dien Ban town.

Previously, on December 25, 2024, the Chief Inspector of the Department of Justice of Quang Nam issued a decision to fine MT Quang Da Joint Stock Company (461-463 Nguyen Huu Tho, Khue Trung Ward, Cam Le District, Da Nang City) 17 million VND for "providing false information and documents to register for the auction and participate in the auction".

Specifically, in the application file to participate in the auction of mineral exploitation rights for the DB2B sand mine, the 2023 financial report of Quang Da MT JSC shows that the owner's equity has increased by 199 billion VND.

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MT Quang Da Joint Stock Company is headquartered in Da Nang City. Photo: Ho Giap

However, the Economic Police Department (Quang Nam Provincial Police) verified that this increase in equity capital was incorrect. The 2023 financial report showed that the equity capital was contributed in cash (in account 111), but in reality the company had no cash.

The above penalty decision also requires the cancellation of the auction results according to regulations. All costs of organizing the implementation of remedial measures shall be paid by Quang Da MT JSC.

Dien Ban Town People's Committee requested the Department of Natural Resources and Environment to coordinate with Hoa Thuan Joint Stock Auction Company to handle the deposit of Quang Da MT JSC paid when participating in the auction of the DB2B mine. At the same time, urgently advise the Town People's Committee to submit an adjustment to the auction plan for mineral exploitation rights for the DB2B mine to re-auction.

As reported by VietNamNet, on October 18, 2024, Hoa Thuan Joint Stock Auction Company (a unit hired by the Department of Natural Resources and Environment of Dien Ban town to conduct the auction) organized an auction of the right to exploit sand minerals as common construction materials at the mine marked DB2B, with an area of ​​6.04 hectares and an estimated resource of 159,000m3 of sand.

Although the starting price was just over 1.2 billion VND, after 20 hours and 200 rounds, MT Quang Da Joint Stock Company was the unit that paid the highest price with the winning bid of over 370 billion VND.

The Department of Natural Resources and Environment of Quang Nam province said that the auction results for mineral exploitation rights at the BD2B mine had unusual factors. The price paid was many times higher than the starting price and the price of construction materials announced by the authorities.

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