Promulgation of the Law on Geology and Minerals 2024 in Vietnam
Promulgation of the Law on Geology and Minerals 2024 in Vietnam
On November 29, 2024, the National Assembly of Vietnam issued the Law on Geology and Minerals 2024, regulating the following issues:
- Basic geological investigation, geological investigation related to minerals
- Protection of geological resources, unexplored minerals
- Mineral activities
- Mineral recovery
- Mineral processing
- Financial matters related to geology, minerals, and auction of mining rights
- State management of geology and minerals within the territory, islands, internal waters, territorial sea, contiguous zones, exclusive economic zones, and continental shelf of the Socialist Republic of Vietnam.
The following cases do not fall under the regulation of the Law on Geology and Minerals 2024:
- Petroleum; types of natural water that are not natural mineral water or natural hot water
- Mineral processing activities not associated with mineral exploration investment projects to obtain mining licenses or licenses for exploiting residual minerals.
Promulgation of the Law on Geology and Minerals 2024 in Vietnam (Image from the Internet)
What are principles for mineral activities in Vietnam?
According to Clause 2, Article 4 of the Law on Geology and Minerals 2024, the principles of basic geological investigation, geological investigation of minerals, and mineral activities are stipulated as follows:
Article 4. Principles of basic geological investigation, geological investigation of minerals, and mineral activities
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2. Mineral activities must ensure the following principles:
a) Conform with strategies, planning, plans related to mineral activities, except in the cases specified at Point c, Clause 2, Article 67, and Point c, Clause 2, Article 73 of this Law; ensure requirements for environmental protection, natural landscape, historical-cultural relics, scenic spots, and other natural resources; ensure national defense, security, social order, and safety, and disaster prevention;
b) Receive licenses or written approval from competent state management agencies according to this Law;
c) Mineral exploration must fully assess resource scale, reserves, and quality of mineral types according to the exploration proposal;
d) Mineral extraction must take economic-social efficiency and environmental protection as fundamental standards for investment decisions; apply advanced extraction technology suitable for the scale, characteristics of each mine, and type of mineral to maximize mineral recovery;
[....]
Mineral activities must ensure the following principles:
- Conform with strategies, planning, and plans related to mineral activities, except in cases specified at Point c, Clause 2, Article 67 of the Law on Geology and Minerals 2024 and Point c, Clause 2, Article 73 of the Law on Geology and Minerals 2024
- Ensure requirements for environmental protection, natural landscape, historical-cultural relics, scenic spots, and other natural resources
- Ensure national defense, security, social order, and safety, and disaster prevention
- Receive licenses or written approval from competent state management agencies according to regulations
- Mineral exploration must fully assess the scale of resources, reserves, and quality of mineral types according to the exploration proposal
- Mineral extraction must take economic-social efficiency and environmental protection as fundamental standards for investment decisions; apply advanced extraction technology suitable to the scale, characteristics of each mine, and type of mineral to maximize mineral recovery
- Prioritize organizations and individuals legally extracting minerals to explore deeper and expand without having to auction mineral exploration rights to fully assess and harness all mineral bodies for the type of mineral already licensed for extraction
- Harmonize interests and share risks among related parties
What acts are prohibited in geology and minerals in Vietnam?
According to Clause 1, Article 9 of the Law on Geology and Minerals 2024, the prohibited acts in geology and minerals include:
- Exploiting basic geological investigations, geological investigations related to minerals, and mineral activities to infringe on the interests of the State, the legal rights and interests of organizations, individuals, and communities.
- Exploiting basic geological investigations, geological investigations related to minerals, and mineral exploration to extract geological and mineral resources.
- Conducting basic geological investigations, geological investigations related to minerals, and mineral activities without approval, licensing, or written approval from competent state management agencies.
- Illegally obstructing basic geological investigations, geological investigations related to minerals, and mineral activities.
- Intentionally destroying or damaging valuable and rare geological and mineral specimens.
- Trading minerals of illegal origin.
