The Tax Department of Region VII has issued Decision 1165/QD-XPHC deciding to administratively sanction Thai Nguyen Iron and Steel Corporation. The representative is Mr. Nguyen Minh Hanh - General Director.
Accordingly, the Branch of Thai Nguyen Steel Corporation - Tien Bo Iron mine established by TISCO to exploit iron ore at Tien Bo Iron mine has incorrectly declared environmental protection fees for raw poor ore since 2017. 2024.
In the period of 2017-2024, TISCO Branch - Tien Bo Iron mine has declared incorrect raw poor ore resources, leading to incorrect determination of the fee to be paid according to regulations in BVMT fee settlement statements.
The statements under forms 02/BVMT and 02/PBVMT submitted according to the circulars of the Ministry of Finance from 2017 to present do not accurately reflect reality. The tax authority determined that TISCO had one aggravating circumstance due to repeated administrative violations.
For the above violation, TISCO was administratively fined VND9 million, forced to pay nearly VND151.6 billion in outstanding environmental protection fees to the state budget, along with nearly VND74 billion in late payment of environmental protection fees.
Previously, Lao Dong reported that after more than 10 years of operation, the amount of poor iron ore with a content of less than 51% remaining at Tien Bo iron mine has reached nearly 3 million tons and to date, this amount of ore is still "shelved" waiting for processing.
These are all iron ores with a content of less than 51% Fe that have been peeled off and classified during the mining process since 2014 and have been kept because they cannot be screened.
This amount of ore is equivalent to the reserves of an average mine. This leads to risks of landslides and environmental pollution if not well preserved.
According to the Second Quarter Financial Report.2025, TISCO recorded net revenue of more than VND 3,399 billion, up nearly 10.7% over the same period. After-tax profit of corporate income reached more than 14.5 billion VND, the same period lost more than 947 million VND.
In the first 6 months of the year, the enterprise recorded revenue of more than VND 6,231 billion, up more than 18.6% over the same period last year. Semi-annual profit after tax was recorded at more than 5.3 billion VND, up 6% over the same period in 2024.
