ImplementationTargeted customers:

  • All organizations and individuals who are allowed to exploit mineral resources must deposit for environmental restoration at VEPF before taking any action;

  • Organizations and individuals who are exploiting mineral resources but have not deposited for environmental restoration must deposit for environmental restoration at VEPF;

  • Organizations and individuals who have investment, construction projects and are allowed by administrative state agency to exploit mineral resources in the construction areas do NOT have to deposit for environmental exploitation.

Implementation

Aim and principle

  • Objective of deposit for environmental restoration is ensure financial sources for environmental re-operation and recover after exploitation;
  • The minium deposit is equivalent to real cost involved in recovering environmental losses after exploitation.

Practice of deposit

  • If exploitation duration is less than three years, project owner has to deposit once. Deposit amount is 100% of anticipated cost for environmental recovery project approved by related competent agency.

  • If exploitation duration is three years or more, project owner may deposit more than once.

  • Deposit amount is regulated as such:

    • For the first time of payment: if exploitation duration is less than 10 years, project owner has to pay 25% of the total deposit; if it is between 10 and 20 years, project owner has to pay 20% of the total deposit and if it is 20 years or more, project owner has to pay 15%.

  • With the latter payments, project owner should pay the rest amount which is already divided corresponding to each year of exploitation duration that left.

  • If it is possible to deposit in instalments, project owner can still choose to deposit once.

  • If exploitation duration is extended, organizations and individuals who exploit mineral resources need to set up supplement project for environmental recovery and pay additional deposit;

  • Interest yielded from the deposit is similar to flexible deposit rate in commercial banks, starting from the date of deposit;

  • Organizations and individuals apply for deposit need to fill in the form "Request for deposit for environmental restoration in mineral exploitation", then attach required documents and send them to VEPF's office.


List of enterprises who deposited at VEPF

1. Hai Phong cement company

2. Tuyet Vu Co., Ltd

3. Thuy Lieu private business

4. Cam Pha cement JSC

5. Coal-mining mill 790

6. One member Ltd company 91

7. One member Ltd company 86

8. One member Ltd company 45

9. One member Ltd company 35

10. Hong Thai Coal Co., Ltd

11. Quyet Thang VINACONEX

12. Sanh Chien Co., Ltd

13. Binh Hoa Co., Ltd

14. Hoang Hau Construction Co., Ltd

15. Thach Anh Co., Ltd

16. Khe Sim firm
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