Vietnam: Procedures for conducting the meeting of the Mineral Mining Rights Auction Council

Vietnam: Procedures for conducting the meeting of the Mineral Mining Rights Auction Council (Illustrative Image)

Under Clause 4 of Circular 16/2014/TT-BTNMT, when there is a decision approving the auction plan of mineral mining rights by a competent state agency, within 30 working days, the standing body of the Auction Council prepares the content for the meeting of the Auction Council, including:

- 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 mining 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 mining rights auction session, the standing body must submit all documents related to the auction results to the Chairman of the Auction Council.

In addition, the standing body of the Auction Council must collect and compile complaints related to the mineral mining 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 body 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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