Sand auction lasted 20 hours and ended at 4am, starting price was over 1 billion but closing price was 370 billion

The auction was tense and lasted for dozens of hours - Photo: PHUC TRUONG

This information was reported by the leaders of Dien Ban Town People's Committee to higher-level leaders.

Accordingly, the sand mine auction ended at 4:08 am this morning, October 19, after 200 rounds of bidding. The sand mine was priced at 370 billion VND, at 1,534.6% of the starting price. The winning bidder is headquartered in Da Nang City.

According to the information inviting the auction for sand exploitation rights at the DB2B mine, this is a construction sand mine.

The mine has an area of 6.04 hectares, the approved planned reserve is ^159,000m3 , starting price R = 5%, step price 0.8%. Enterprises participating in the auction must deposit 242.8 million VND in advance.

The units started the auction at 8:00 a.m. on October 18 at the hall of the People's Committee of Dien Ban town, Quang Nam province.

Businesses continuously raise prices - Photo: PHUC TRUONG

Many people still lingered at 4am on October 19 - Photo: PHUC TRUONG

A representative of a business participating in the auction said that quite a few units came to the hall of the People's Committee of Dien Ban town from the morning of October 18. However, because the auction lasted for a long time, the units continuously bid high prices to win the exploitation rights, so many people had to leave one after another.

It was not until 4:08 am this morning, October 19, when the price of 370 billion VND was announced by a company in Da Nang, that the decision was made. Thus, from the beginning to the end of the session, it took more than 20 hours.

Recently, sand prices in Quang Nam, especially in Dien Ban, Dai Loc, Xuy Duyen... have been fluctuating continuously.

Sand is scarce due to tightening regulations, many sand mines have expired, causing prices to skyrocket at times.

According to the information in the announcement of the auction of sand mining rights, organizations and individuals registered to do business in the mineral exploration industry suitable for the type of mineral put up for auction; with sufficient capacity and experience in mining will be allowed to participate in the auction.

Participating units must have a written introduction of their capacity and experience in mineral exploration, exploitation and processing. Machinery and equipment in the capacity profile must have documents proving that they are assets owned by the enterprise or the organization leasing the equipment.

In addition, a profile introducing financial capacity and capital mobilization ability, financial report of the most recent year is required.

Enterprises must also outline a preliminary plan for investment, exploration, exploitation, processing, product consumption and a commitment to project implementation.

Source: https://tuoitre.vn/dau-gia-cat-suot-20-tieng-va-ket-thuc-luc-4h-sang-khoi-diem-hon-1-ti-nhung-gia-chot-370-ti-20241019075214897.htm