The sand auction lasted 20 hours and ended at 4 am, starting at over 1 billion VND but closing at 370 billion VND.

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

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

Accordingly, the sand mine auction concluded at 4:08 AM this morning, October 19th, after 200 rounds of bidding. The sand mine was sold for 370 billion VND, at 1,534.6% of the starting price. The winning bidder is based in Da Nang City.

According to the information regarding the auction for sand mining rights at the DB2B mine site, this is a construction sand mine.

The mine covers an area of ​​6.04 hectares, with an approved planned reserve of 159,000 ^m³ , a starting price of R = 5%, and a bidding increment of 0.8%. Participating businesses must deposit 242.8 million VND in advance.

The bidding process began at 8:00 AM on October 18th at the meeting hall of the Dien Ban Town People's Committee, Quang Nam province.

Businesses are continuously raising prices - Photo: PHUC TRUONG

Many people were still lingering at 4 am on October 19th - Photo: PHUC TRUONG

A representative from a company participating in the auction said that quite a few units had arrived at the Dien Ban Town People's Committee hall since the morning of October 18th. However, due to the prolonged auction and the continuous high bids from units vying for the right to exploit the land, many people had to leave one by one.

The deal was finally settled at 4:08 AM this morning, October 19th, when a company in Da Nang offered 370 billion VND. Thus, the entire auction lasted over 20 hours.

Recently, sand prices in Quang Nam, especially in the Dien Ban, Dai Loc, and Xuyen areas, have been constantly fluctuating.

Sand is scarce due to stricter regulations, and many sand mines have reached the end of their operating licenses, leading to exorbitant prices at times.

According to the information in the auction notice for sand mining rights, organizations and individuals registered to conduct business in mineral exploration that matches the type of mineral being auctioned, and possessing sufficient capacity and experience in mining, will be eligible to participate in the auction.

Participating entities must provide written documentation outlining their capabilities and experience in mineral exploration, extraction, and processing. Machinery and equipment listed in the capability profile must be documented to prove ownership by the enterprise or the organization leasing the equipment.

In addition, a profile outlining financial capacity and fundraising ability, along with the most recent financial report, is required.

Businesses must also outline a preliminary plan for investment, exploration, exploitation, processing, and product consumption, along with 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