Procedure for Conducting Sessions of the Council for Mineral Exploitation Auctions

Proceeding Order of the Mineral Exploitation Auction Council Meeting (Illustrative Image)

Paragraph 4 of Circular 16/2014/TT-BTNMT regulates that when there is a decision approving the auction plan of mineral exploitation rights by a competent state agency, within 30 working days, the standing agency of the Auction Council prepares the content for the Auction Council meeting, which includes:

- Draft auction regulations including the following main contents:- Conditions and methods for auction participation registration;- Regulations on auction participation fees and deposits;- Regulations on auction methods;- Regulations on withdrawal of registration for auction participation, handling the deposits of those who withdraw their registration within the registration period;- Cases where participation in the auction isn't allowed to continue;- Cases where the deposit isn't returned;- Other necessary related content.

- Draft internal rules for the mineral exploitation rights auction session;

- Draft calculation of the deposit and price step;

- Organization plan for the auction session;

- Report on the preparation results for the auction session.

No later than 03 working days from the conclusion date of the mineral exploitation rights auction session, the standing agency must submit all documents related to the auction results to the Chairman of the Auction Council.

In addition, the standing agency of the Auction Council must collect and compile complaints related to the mineral exploitation rights auction session and submit them to the Chairman of the Auction Council no later than 05 working days from the date of receiving the complaints. At the same time, the standing agency of the Auction Council must carry out other related work as assigned by the Chairman of the Auction Council.

More details can be found in Circular 16/2014/TT-BTNMT, effective from June 2, 2014.

Thuy Tram

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