Refund to the State nearly 6.45 billion VND for the cost of assessing potential and exploring minerals

*Director of Vietnam Minerals Department Nguyen Truong Giang speaks at the meeting*

Reporting on the results of determining the cost of mineral exploration that must be reimbursed due to the state's investment in Binh Minh coal mine, Ha Khanh ward, Ha Long city, Quang Ninh province, Mr. Nguyen Viet Bao - Mineral Information and Data Center, Vietnam Minerals Department said: Binh Minh coal mine is located in the west of the Hon Gai - Cam Pha coal area, in Ha Long city, Quang Ninh province. The area of the application for a mineral exploitation license on June 22, 2023 is 1.43 km2. Binh Minh coal mine area has been studied since the 1960s, with many valuable research works.

Report on determining the cost of mineral potential assessment and mineral exploration costs that must be reimbursed due to the State's investment in the hot mineral water mine at borehole LK101, La Phu commune, Thanh Thuy district, Phu Tho province, Mr. Tran Minh Son, Mineral Information and Data Center said: The exploration area has very favorable economic and humanistic geographical conditions for exploration, and then sand mining after being granted a mining license. The calculation results are accurate, correctly and objectively reflecting the amount of money the State has invested in assessing the potential and exploring the hot mineral water mine at borehole LK101, which is 1,386,635,000 VND.

Mr. Dao Chi Bien, Head of the Department of Planning - Finance and Mineral Economics, Vietnam Minerals Department, said that the report on determining the cost of assessing mineral potential and the cost of mineral exploration that must be reimbursed because the State has invested in the hot mineral water mine at borehole LK101 has a structure and content that is in accordance with regulations, some shortcomings mentioned in the comments and evaluation documents of the members attending the Technical Workshop have been corrected, explained and completed by the Mineral Information and Data Center. Thus, the report has sufficient basis to submit to the Appraisal Council according to the provisions of Circular No. 23/2018/TT-BTNMT of the Minister of Natural Resources and Environment.

Speaking at the meeting, Mr. Nguyen Truong Giang, Director of the Vietnam Minerals Department, assessed that the above two reports have gathered all the necessary information and data related to determining the cost of mineral potential assessment and the cost of mineral exploration that must be reimbursed due to the State's investment.

At the same time, the basis of documents, volume, unit price, and method applied to determine the cost of mineral potential assessment and mineral exploration costs that must be reimbursed due to the State's investment in the two mines are well-founded and in accordance with the provisions of Decision No. 04/2018/QD-TTg of the Prime Minister promulgating the Regulations on the method of determining the cost of mineral potential assessment, mineral exploration costs that must be reimbursed, and the method of reimbursement; regulations on the collection, management, and use of the cost of mineral potential assessment and mineral exploration invested by the State.

On that basis, the Appraisal Council agreed that the Vietnam National Coal and Mineral Industries Group must reimburse the mineral exploration costs invested by the State at Binh Minh coal mine according to the application for a mineral exploitation license dated June 22, 2023, which is VND 5,061,770,000.

In addition, the amount that Song Thao Company Limited must repay for the cost of mineral potential assessment and mineral exploration costs invested by the state at the hot mineral water mine at borehole LK101, La Phu commune, Thanh Thuy district, Phu Tho according to the application for mineral exploitation license dated March 10, 2023 is: VND 1,386,635,000.

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