Duy Xuyen District People's Committee has just organized an auction of the right to exploit DX6B sand mine in Duy Trinh commune. The mine has an estimated reserve of 197,000m3, with a starting price of more than 1.8 billion VND.
After 11 rounds, Han Hien Hau Trading and Service Company Limited won the auction with a price of more than 138 billion VND - 77 times higher than the starting price, equivalent to more than 702,000 VND/m3 of sand (excluding taxes, fees, investment costs...).
Previously, on June 19, three other sand mines in Dai Loc district were also auctioned with surprisingly high winning prices: mine 790,000m3, starting price 7.59 billion, winning auction for more than 491 billion VND; mine 360,000m3, starting price 3.46 billion, winning auction for nearly 320 billion VND; mine 166,000m3, starting price 1.23 billion, winning auction for more than 129.6 billion VND
Sand prices in Quang Nam - Da Nang are climbing due to scarce supply. The outstandingly high auction prices make experts worry that businesses will push up selling prices to cover costs, disrupting the market of construction materials.
