Prime Minister requests review of auction of three sand mines worth nearly 1,700 billion VND

The Prime Minister directed Hanoi City to review the process of surveying, evaluating reserves, preparing documents, and organizing auctions for sand mining rights in Ba Vi and Bac Tu Liem districts.

Prime Minister Pham Minh Chinh 's telegram dated November 11 stated that the auction results for the right to exploit three sand mines Chau Son, Tay Dang - Minh Chau (Ba Vi district), Lien Mac (Bac Tu Liem district) were "many times higher than the starting price, with unusual factors". Public opinion is particularly interested in this auction result and it could create an effect on the construction materials market.

Therefore, the Prime Minister requested a review of the entire auction process, not allowing organizations and individuals to take advantage of management loopholes to profit, lose, waste, or benefit groups. Violations in the auction of the three sand mines must be detected early and handled. "Prevent the act of taking advantage of the auction to push up prices and disrupt the market," the Prime Minister directed and requested Hanoi to report before November 20.

The Ministry of Natural Resources and Environment, the Ministry of Finance, the Ministry of Construction, and the Ministry of Justice were assigned to coordinate with localities to inspect auctions for mineral exploitation rights, especially minerals used as materials, showing unusual signs, with winning results many times higher than the starting price.

Auction company staff distribute ballots and guide investors on how to vote. Photo: Hoang Phong — Auction company staff distribute ballots and guide investors on how to vote. Photo: *Hoang Phong*

The auction of three sand mines organized by the Hanoi Department of Natural Resources and Environment lasted for 21.5 hours on November 5-6. Chau Son mine with a reserve of more than 700,000 m3, a deposit of more than VND400 million, a starting price of VND2.8 billion, was participated in by 29 qualified organizations from 9am to 9pm on November 5. After 89 rounds, the Department of Natural Resources and Environment determined that the investor won the right to exploit the sand mine at a price of more than VND396 billion, 141 times higher than the starting price.

Lien Mac mine has a reserve of nearly 500,000 cubic meters of sand, a deposit of over 300 million VND, a starting price of 2 billion VND, and 28 qualified organizations participated. This mine was auctioned from 9:00 p.m. on November 5 to 2:29 a.m. on November 6. After 53 rounds, a business won the mining rights for 408 billion VND, 204 times the starting price.

Tay Dang - Minh Chau mine with reserves of 4.9 million cubic meters of sand, deposit of 2.8 billion VND, starting price of more than 19 billion VND was auctioned by 16 organizations from 2:30 to 5:33 on November 6. After 21 rounds, the Department of Natural Resources and Environment determined that the investor won the mining rights with a winning price of more than 880 billion VND, 46 times higher than the starting price.

The total amount of money that investors won the auction for the three sand mines was nearly 1,690 billion VND, the deposit was 3.5 billion VND, 70 times the starting price. The unit that won the right to exploit must pay the full amount within the prescribed time, otherwise the deposit will be lost.

Hanoi plans to continue auctioning the exploitation rights of three sand mines, Co Do 1, Co Do 2 and Thanh Chieu mine in Ba Vi district this year.

Viet Tuan

Source link