Previously, in Dien Tho commune (Dien Ban town, Quang Nam), an auction took place for the right to exploit sand as a common construction material at the DB2B mine. At the end of the auction early this morning, the sand mine had a starting price of 1.2 billion but was bid up to 370 billion VND.

According to the report of the Department of Natural Resources and Environment, the auction results for mineral exploitation rights at this mine site had unusual factors. The price paid was many times higher than the starting price and the price of construction materials announced by the authorities.

The final price also shows signs of market manipulation for profiteering, pushing up the price of construction sand materials, negatively affecting economic security and social order.

To promptly inspect, handle and rectify this situation, Chairman of the People's Committee of Quang Nam province Le Van Dung has issued a document requesting the Department of Natural Resources and Environment to preside over and coordinate with the Department of Justice and relevant functional agencies and the People's Committee of Dien Ban town to inspect and review the records, processes and procedures related to the auction of mineral exploitation rights for the DB2B mine.

When inspecting, special attention should be paid to the financial capacity and equity of the auction participants as prescribed in Article 53 of the 2010 Law on Minerals and the shortcomings in the process and procedures for auctioning mineral exploitation rights in the province.

From there, advise the People's Committee of Quang Nam province to direct timely correction and remedy and report to the Prime Minister and relevant ministries and branches to consider, study and amend and supplement the provisions of the Law on Property Auction 2016 accordingly.

The Chairman of the Provincial People's Committee also assigned the Provincial Police to investigate, verify, and clarify the motives and purposes of paying unusually high prices at this sand mine auction. If violations are discovered, cases of taking advantage of the auction to disrupt the market for personal gain will be strictly handled.

At the same time, while waiting for the competent authorities to inspect, Mr. Dung requested the People's Committee of Dien Ban town to temporarily not issue a decision to recognize the results of the auction of mineral exploitation rights at the DB2B mine.

Sand mine auction from 1.2 billion to 370 billion causes shock: Quang Nam directs inspection The results of the sand mine auction that just took place in Quang Nam province shocked many people when the starting price was only 1.2 billion VND but the winning bid was up to 370 billion VND.