Binh Dinh auctions 45 mineral mines

The purpose of this Plan is to strengthen the management of mineral activities in accordance with the provisions of the 2010 Mineral Law and other relevant legal provisions. Promote mineral potential, attract investment to effectively exploit local mineral resources, and increase State budget revenue.

The mineral areas selected for auction are in accordance with the planning for mineral exploration, exploitation, processing and use of the province until 2020, with a vision to 2030, approved by the People's Committee of Binh Dinh province for the auction plan (outside the areas that have been demarcated by the People's Committee of the province as areas where mineral exploitation rights are not auctioned according to the provisions of the 2010 Mineral Law).

The estimated amount of money raised through the auction is about 46.05 billion VND. Illustration photo: Thanh Tung

Auction of mineral exploitation rights is carried out according to the principles of publicity, transparency, continuity, equality, ensuring the rights and legitimate interests of the auction participants. Protecting the rights and legitimate interests of the auction property owners, auction participants, auction winners, auction property buyers, property auction organizations, and auctioneers.

Conducting the auction of mineral exploitation rights must comply with the provisions of the Law on Property Auction 2016 and the provisions of Decree No. 22/2012/ND-CP dated March 26, 2012 of the Government regulating the auction of mineral exploitation rights; Decree No. 158/2016/ND-CP dated November 29, 2016 of the Government detailing the implementation of a number of articles of the Law on Minerals; Joint Circular No. 54/2014/TTLTBTNMT-BTC dated September 9, 2014 of the Ministry of Natural Resources and Environment - Ministry of Finance detailing a number of articles of Decree No. 22/2012/ND-CP dated March 26, 2012 of the Government; Decision No. 16/2016/QD-UBND dated February 3, 2016 of the Provincial People's Committee on promulgating Regulations on auction of mineral exploitation rights in Binh Dinh province.

A total of 45 mines were auctioned, of which 6 mine areas had mineral exploration results and 39 mine areas had no mineral exploration results. The People's Committee of Binh Dinh province assigned the Department of Natural Resources and Environment; People's Committees of districts, towns, cities; People's Committees of communes where mineral mines are located and the selected asset auction organization to publicly disclose information on mine locations with approved auction plans according to the provisions of Article 57 of the Law on Asset Auction 2016.

The order and procedures for auctioning mineral exploitation rights are implemented in accordance with the Law on Property Auction 2016, the Government's Decree regulating the auction of mineral exploitation rights and Circular 02/2022/TT-BTP dated February 8, 2022 of the Ministry of Justice guiding the selection of property auction organizations.

The Auction Plan implementation time is in 2023. In case the auction is not successful in 2023, the auction of mineral exploitation rights will continue in 2024.

The estimated amount of money collected is about 46.05 billion VND (difference of 2 price steps). According to Decision No. 4179/QD-UBND dated December 22, 2022 of the Provincial People's Committee on the allocation of the State budget estimate for 2023. In case the estimated cost of the auction is insufficient, the Department of Natural Resources and Environment shall coordinate with the Department of Finance to report to the Provincial People's Committee for permission to supplement the budget for implementation according to regulations.

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