Is it permissible for organizations licensed for mining to transfer the mining right in Vietnam?

Is it permissible for organizations licensed for mining to transfer the mining right in Vietnam?

Pursuant to Clause 1, Article 55 of the Law on Mineral in 2010 stipulating organizations and individuals licensed for mining have the following rights:

a/ To use mineral-related information pertaining to the mining purpose and area permitted for mining;

b/ To mine minerals under the mining license;

c/ To further explore mineral deposits within the permitted area and depth and, before exploration, notify the volume and duration of such exploration to competent licensing state management agencies;

d/ To store, transport, sell and export the exploited minerals under law;

e/ To apply for extension or return of the mining license or return of part of the mining area;

f/ To transfer the mining right;

g/ To lodge complaints or lawsuits against decisions revoking the mining license or other decisions of competent stale agencies;

h/ To rent land under the land law according to the approved mining investment project or mine design;

i/ Other rights provided by law.

As regulations above, your company have the right to to transfer the mining right other organizations and individuals.

What are the obligations of organizations licensed for mining in Vietnam?

Pursuant to Clause 2, Article 55 of the Law on Mineral in 2010 stipulating the obligations of organizations licensed for mining in Vietnam as follows: 

a/ To pay a fee for the grant of the mining right, a licensing fee. royalties, taxes, and charges, and fulfill other financial obligations under law;

b/ To ensure the schedule of mine infrastructure construction and mining activities stated in the mining investment project and mine design;

c/ To register the date of commencement of mine infrastructure construction and date of commencement of mining with competent licensing state management agencies and notify them to People's Committees at all levels in the locality in which the mines are located before construction or mining;

d/ To exploit to the maximum main and accompanied minerals; to protect mineral resources; to ensure labor safety and sanitation and take measures to protect the environment;

e/To collect and store information on results of further exploration for mineral deposits and on mining results;

f/ To report mining results to competent state management agencies under regulations of the Ministry of Natural Resources and Environment;

g/ To compensate for damage caused by mining activities;

h/ To create favorable conditions for other organizations and individuals to conduct scientific researches permitted by the State in the mining area;

i/ To close mines, restore the environment and rehabilitate the soil when the mining license expires;

j/ Other obligations provided by law.

Best regards!