On the morning of October 19, the leader of Dien Ban Town People's Committee said that the DB2B mine located in Dien Tho Commune, this town, had just been auctioned by a business for up to 370 billion VND.
The auction took place on October 18, organized by Hoa Thuan Auction Company.
The DB2B mine has an area of 6.04 hectares, with an approved planned reserve of 159,000m3.
Notably, the starting price was only 1.2 billion VND, but after 20 hours with 200 rounds, at 4:00 a.m. on October 19, the auction ended, with the closing price reaching 370 billion VND.
According to the leaders of Dien Ban town, the auction attracted many businesses to participate, and finally, MT Quang Da Joint Stock Company (Khue Trung Ward, Cam Le District, Da Nang City) was the winning bidder for the above sand mine, with the amount of 370 billion VND. This was a very surprising result.
Speaking to Lao Dong, Lawyer Nguyen Thanh Tan, from the Quang Nam Bar Association, said that with the unusually high auction price, businesses are forced to increase their selling prices to make a profit. If the auction is over and the deposit is withdrawn, the sand reserves that are not brought to the market will also cause a disruption in supply, leading to a shortage and a rise in sand prices.
Therefore, authorities need to monitor and have sanctions against units participating in auctions, bidding high and then abandoning deposits.
