After winning the 370 billion sand mine auction, Quang Nam asked the police to check the unusual auctions.

After the company won the sand mine auction worth 370 billion VND, Quang Nam requested localities to strengthen management of mineral exploitation rights auctions, and the police to inspect auctions showing signs of irregularities.

Sand mine area in Dien Tho, Dien Ban town where the enterprise won the auction for 370 billion VND - Photo: BD

On October 29, after a business won the auction of a sand mine worth 370 billion VND in Dien Ban town, Mr. Tran Nam Hung, Vice Chairman of the People's Committee of Quang Nam province, issued an official dispatch to strengthen state management in the field of auctioning mineral exploitation rights.

Mr. Hung requested that the People's Committees of localities, when organizing auctions for mineral exploitation rights, must pay attention to the stage of preparing documents inviting participants to participate in the auction, and carefully review documents to select enterprises with sufficient capacity and experience to participate.

Before conducting the auction, it is necessary to disseminate information to participating organizations and individuals to clearly understand that the amount of money won in the auction for mineral exploitation rights is only part of the obligation that the enterprise must pay to the state budget to obtain the right to exploit.

In addition to that money, businesses must pay many other expenses such as: exploration, exploitation, processing, mineral resource tax obligations, and environmental protection fees.

Within no more than 6 months from the end date of the auction, the winning organization in the unexplored mineral area must submit an application for a mineral exploration license to the competent state licensing agency.

And to be granted a mineral exploitation license, the winning organization must have equity capital of at least 30% of the total investment capital of the mineral exploitation project, including the auction winning money.

During the auction process, if there are unusual factors with bid prices many times higher than the selling prices of the same type of mineral auctioned locally with the aim of "destroying" the auction, disrupting the market, or showing signs of taking advantage of participating in the auction to force other organizations and individuals to negotiate for personal gain, then immediately notify the competent authorities for verification and handling.

Mr. Hung also requested the provincial police to direct the inspection and verification of auctions with signs of irregularities, resolutely prevent and strictly handle organizations and individuals participating in auctions with violations.

The Department of Natural Resources and Environment coordinates with the Department of Justice to monitor and inspect the organization of mineral exploitation rights auctions in localities.

In case the process, procedures, and implementation organization are still inadequate and do not comply with regulations, propose amendments, adjustments, and supplements to prevent negative behaviors and prevent the situation of intentionally paying high prices and then putting down deposits.

The auction on October 18 was tense and lasted for dozens of hours – Photo: PHUC TRUONG

As reported by Tuoi Tre Online , on October 18, at the hall of Dien Ban Town People's Committee, an auction of mineral exploitation rights at the DB2B mine in Dien Tho Commune took place. The auction went beyond the imagination of the authorities. Businesses continuously raised their bids to sky-high levels.

It took 20 hours, starting from 8:00 a.m. on October 18 to 4:08 a.m. on October 19, for the auction to end. The final price for the 159,000m³ sand mine was also surprising at 370 billion VND, with the closing unit being MT Quang Da Joint Stock Company, an increase from the starting price of 369.3 billion VND.

After that, Quang Nam Province Chairman Le Van Dung requested to temporarily suspend the recognition of the results, and directed the Provincial Police to investigate and clarify the motives and purposes of the unusually high bids of the auction. When violations are discovered, cases of taking advantage of the auction to disrupt the market for personal gain will be strictly handled.

Source: https://tuoitre.vn/sau-vu-trung-dau-gia-mo-cat-370-ti-quang-nam-yeu-cau-cong-an-kiem-tra-cac-cuoc-dau-gia-bat-thuong-20241029154359126.htm