On October 21, Minh Nhat Joint Stock Auction Company (Ha Tinh City) organized the first auction of mineral exploitation rights for common construction materials in Ha Tinh province in 2024 with 4 mineral mines.
These are the mines: Ngoc Son 1 landfill mine (in Ngoc Son commune, Thach Ha district) with an area of 8.63 hectares, with a forecast resource reserve of 1,440,366 m3; Luu Vinh Son 1 landfill mine (in Luu Vinh Son commune, Thach Ha district) with an area of 17.28 hectares, with a forecast resource reserve of 2,770,811 m3; brick and tile mine (in Ha Linh commune, Huong Khe district) with an area of 20.65 hectares, with a forecast resource reserve of 2,279,711 m3 and Cup Bau sand mine (in Ky Phuong ward, Ky Anh town) with an area of 49.68 hectares, with a forecast resource reserve of 1,987,200 m3.
The auction combines two forms of auction: indirect voting and direct auction, taking place from 7:00 a.m. to 5:00 p.m. on October 21.
As a result, Trong Tin Real Estate Investment and Construction Joint Stock Company (located on Nguyen Du Street, Thach Quy Ward, Ha Tinh City) won the auction for mineral exploitation rights for 3/4 of the mines put up for auction.
That is the Ngoc Son 1 landfill, starting price of more than 1.8 billion VND, was bid up 112 steps, up to 22 billion VND.
Cup Bau sand mine has a starting price of 9.5 billion VND, auctioned through 117 steps, up to 120 billion VND.
The brick and tile quarry in Ha Linh commune had a starting price of 7.5 billion VND, and was auctioned through 65 steps, reaching 56 billion VND.
The Luu Vinh Son 1 landfill mine alone was won by An Binh Construction and Transport Company Limited (located in Viet Tien commune, Thach Ha district, Ha Tinh province) with 125 bids, from over 3.4 billion VND starting price to 47 billion VND winning bid.
The fact that Trong Tin Real Estate Investment and Construction Joint Stock Company won the auction for 3 mineral mines at "sky-high" prices has caused a stir in public opinion. Especially, this is a newly established enterprise (on October 4, 2024) with a charter capital of only 5 billion VND.
