On July 26, the Binh Thuan Provincial Taxation Department reported that titanium mining enterprises paid over VND 105 billion to the state budget in the first six months of this year, compared to over VND 138 billion in 2023.
The taxes and fees incurred by titanium mining enterprises include royalties for mineral exploitation and water resource exploitation, mineral resource tax, and environmental protection fees, among others.
As of July 8, Binh Thuan Province is home to seven enterprises licensed by the Ministry of Natural Resources and Environment to exploit titanium-zircon placer ore, with a total approved exploitation reserve of nearly 6.8 million tons of mineral ore.
Of these seven enterprises, two have not commenced exploitation due to site clearance issues, one is undergoing procedures to close the mine since 2021, one is finalizing procedures for exploitation, and three are currently operating.
A titanium mining site in Binh Thuan Province, Vietnam.
According to the Binh Thuan Department of Natural Resources and Environment, there are currently three titanium mining projects operating in the province with licenses granted by the Ministry of Natural Resources and Environment.
Regarding future development and licensing of additional titanium projects, the department referred to the Decision No. 866/QD-TTg dated July 18, 2023, by the Prime Minister, approving the master plan for exploration, exploitation, processing, and use of minerals for the period of 2021-2030, with a vision to 2050. This decision includes a provision for new titanium projects covering an area of 14,198 hectares, mainly in the Luong Son – Bac Binh area (12,507 hectares).
The authority to grant licenses for titanium mineral exploitation rests with the Ministry of Natural Resources and Environment. During the ministry’s consultation process for granting licenses to titanium projects, the Binh Thuan provincial government will scrutinize each specific area and provide feedback.
To ensure environmental protection and safety in titanium mining, the Binh Thuan provincial government has instructed the Department of Natural Resources and Environment to collaborate with the Department of Industry and Trade and relevant agencies to strengthen inspections and handle violations related to mine design deviations, in accordance with the law.
In 2023, the Binh Thuan provincial government proposed that the Ministry of Natural Resources and Environment establish an inspection team to oversee the operation of titanium mines in the province.
Environmental violations found in numerous businesses in Quang Binh
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Expanding De LaGi Resort Area by over 100 hectares, reducing residential land to less than 2 hectares
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Punishing a Company for Exceeding the Xyanua Contamination Limit by Over 21 Times
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Binh Thuan to hold meeting to evaluate low disbursement of investors
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