What are regulations on announcement and publication of information about mineral extraction right auctions in Vietnam?

What are regulations on announcement and publication of information about mineral extraction right auctions in Vietnam?

Pursuant to Article 18 of the Decree 22/2012/NĐ-CP stipulating announcement and publication of information about mineral extraction right auctions in Vietnam as follows:

1. Based on the approved plan on mineral extraction right auction, The agencies competent to hold mineral extraction right auction specified in Article 12 of this Decree shall publicly announce the mineral extraction right auction at its office and on the website of the agency competent to issue licenses.

The time for notification and publication of an auction is 30 (thirty) consecutive days before the date of receiving mineral extraction right bidder dossiers. Information on an mineral extraction right auction shall also be published in the central or local means of mass media least twice with an interval of 3 (three) days.

2. Information on an mineral extraction right auction includes:

a) Name of the minerals, location of the mineral area put up for auction;

b) The reserve price, deposit;

c) The place and time of the auction;

d) The starting date of receipt of bidder dossiers;

e) Other relevant information.

What are regulations on selection of bidder dossiers for mineral extraction right auctions in Vietnam?

Pursuant to Article 19 of the Decree 22/2012/NĐ-CP stipulating selection of bidder dossiers for mineral extraction right auctions in Vietnam as follows:

1. After the deadline for receiving bidder dossiers, the bidder dossier-receiving agency shall examine the dossiers and select eligible bidders.

After 3 times of announcement and by the deadline for receiving mineral extraction right bidder dossiers, if the number of bidders is smaller than that specified in Clause 2, Article 3 of this Decree, the agency that receives the bidder dossier shall report such to the agency competent to issue licenses and shall not organize the auction.

2. The bidders selected for an mineral extraction right auction must fulfill the following requirements:

a) Its bidder dossier has the documents and materials made under Clause 2, Article 16 of this Decree;

b) It satisfies requirements on mineral exploration or mineral extraction under Articles 34 and 51 of the Law on Mineral;

c) It commits that its mineral extraction and processing equipment and technology and product sale plan conform with the requirements set in the bidding dossier.

3. Within 30 (thirty) days after the deadline for receiving bidder dossiers, the bidder dossier-receiving agency shall complete the selection of bidders’ dossiers for reporting to the auction council president.

For an auction conducted via professional auction organizations specified in Clause 2, Article 12 of this Decree, the provincial Service of Natural Resources and Environment shall transfer bidder dossiers of selected bidders to such organizations for holding the auction after the above time limit is over as prescribed in this Decree and the law provisions on property auction.

Within 30 (thirty) days after receiving a report on selection of bidder dossiers, the auction council president or the professional auction organization shall hold the mineral extraction right auction.

4. For disqualified bidder dossiers, the agency that receives the bidder dossier shall notify relevant organizations and persons in writing specifying the reasons

5. The agency that receives the bidder dossier is responsible for disclosing the list of eligible bidders and post it on the website of the agency competent to issue licenses before the auction is held; and notify in writing the time and place of the meeting providing information related to the auction; time of field survey in the area put up for auction; and time of auction charge and deposit payment to eligible bidders.

What are rules of an mineral extraction right auction in Vietnam?

Pursuant to Article 20 of the Decree 22/2012/NĐ-CP stipulating rules of an mineral extraction right auction in Vietnam as follows:

1. Before an auction is held, the bidder must present the auction council or the professional auction organization with the letter of introduction, the ID card; the receipt of auction fee, receipt of deposit or written auction guarantee.

A bidder may send no more than 3 bidders to attend the auction, one of them shall make bids.

2. During an auction, bidders must observe the following provisions:

a) Only exchange relevant information with each other, not with other organizations or individuals;

b) Do not use means of communications during the auction;

c) Do not cause disturbance or hindrance to the auction or to violate the lawful rights of other bidders;

d) Do not bribe in order to eliminate other bidders or collude with others to suppress prices.

3. When a bidder violates Clause 2 of this Article, the auction council president or the auctioneer may suspend the auction, make records and resume the auction only after the violation is handled as prescribed.

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