Winning bid was 76 times the starting price
On June 25th, the People’s Committee of Duy Xuyên District and Hòa Thuận Partnership Auction Company organized an auction for the mining rights of a construction mineral resource site, specifically the DX6B sand mine located in Phú Bông village, Duy Trinh commune, Duy Xuyên district, Quảng Nam province.
After 11 rounds of bidding, Hân Hiền Hậu Trading Services Co., Ltd., based in Mỹ An village, Đại Quang commune, Đại Lộc district, Quảng Nam province, won the auction with a bid of over 138 billion VND, an astounding 76 times the starting price.
The DX6B sand mine has a reserve of nearly 197,000 cubic meters, and the winning bid of over 138 billion VND far exceeded the starting price of 1.8 billion VND.
It is important to note that the winning bid mentioned above is only for the mining rights and does not include other taxes and fees such as resource taxes, environmental protection fees, environmental restoration deposits, VAT, and corporate income taxes.
With this winning bid, the value of mining rights per cubic meter of sand exceeds 700,000 VND.
A series of other sand and gravel mines also sold for high prices
On June 19th, Hòa Thuận Auction Company, on behalf of the People’s Committee of Đại Lộc District, organized an auction for mining rights to 6 sites, including 3 sand and gravel mines. The results of the auctions for these 3 mines showed significant differences between the winning bids and the starting prices.
In recent times, the province of Quảng Nam has organized auctions for numerous sand mines in the area to promote transparency in mineral resource exploitation and to stabilize the abnormally rising construction sand prices.
However, contrary to expectations, sand prices currently range from 600,000 to 800,000 VND per cubic meter, creating a significant burden for both citizens and construction businesses.
+ ĐL2 construction mineral sand mine (Giảng Hòa village, Đại Thắng commune, Đại Lộc district) – reserve of 790,000 cubic meters:
Starting price: 7.59 billion VND
Winning bid: 491.7 billion VND (Hoàng Châu Sa Co., Ltd.)
+ ĐL11 construction mineral sand and gravel mine (Hà Nha – Vĩnh Phước village, Đại Đồng commune, Đại Lộc district) – reserve of 360,000 cubic meters:
Starting price: 3.46 billion VND
Winning bid: nearly 320 billion VND (Industrial Mineral 6666 Corporation)
+ ĐL12B1 construction mineral sand and gravel mine (Trường An village and ĐL12B1 Phú Hương village, Đại Quang commune, Đại Lộc district) – reserve of 166,000 cubic meters:
Starting price: 1.23 billion VND
Winning bid: over 129.6 billion VND (Trường Lợi Joint Stock Company)
The Surprising Surge in Quarry Bidding Wars: From 1.8 Billion to Over 138 Billion after 11 Rounds in Quang Nam.
A sand mine in Duy Xuyen District, Quang Nam Province, with a reserve of nearly 197,000 cubic meters and a starting price of over VND 1.8 billion, has just been auctioned off to a business for a staggering VND 138 billion.
Maximizing Profits: The Surprising Surge in Quarry Bidding Wars in Quang Nam Province
A sand mine in Duy Xuyen District, Quang Nam Province, with a reserve of nearly 197,000 cubic meters and a starting price of over VND 1.8 billion, has just been auctioned off to a business for a staggering VND 138 billion.
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