Deposits for environmental restoration in mineral exploitation

07/01/2014 2:54:27 CH

The legal documents

  • Decision No. 71/2008/QD-TTg May 29, 2008 of the Prime Minister on margin improvement and recovery environment for mining operations.
  • Circular No. 34/2009/TT-BTNMT 31 January 12, 2009 of the Ministry of Natural Resources and Environment regulations on the preparation, approval, inspection and certification of renovation projects, environmental restoration and margin improvement environmental rehabilitation of mining operations.
  • Decision No. 08/QD-QBVMT 07 01 2013 of the Director of the Vietnam Environment Protection Fund of the issuance of the escrow deposit and payment reform, environmental rehabilitation of mining activities minerals. 

Subjects margin improving environmental restoration in mineral exploitation

All organizations and individuals permitted to mine minerals under the provisions of Article 6 of Decision No 71/2008/QD-TTg dated 29/5/2008 of the Prime Minister on the margin improvement of environmental restoration with mining activities

The deposit methods improve environmental restoration in mineral exploitation

  • For the case of the exploitation period of mining licenses in 3 (three) years shall deposit once. Deposit equal to 100% (one hundred percent) of the estimated total costs of environmental restoration project in renovation and restoration of the environment was the competent authorities for evaluation and approval.
  • For the case of the mining license for a period of 3 (three) years shall be allowed to deposit multiple times.
  • First deposit amount is specified as follows:
  • For projects with a term of mining under the mining license issued less than 10 years, the initial deposit equal to 25% (twenty five percent) of the amount to be deposited;
  • For projects with a term of mining under the mining license is granted for 10 years and under 20 years, the first deposit amount of 20% (twenty percent) of the amount to be deposited;
  • For projects with a term of mining under the mining license is granted (Tg) of 20 years or more, the initial deposit equal to 15% (fifteen percent) of the amount to be deposited.
  • Subsequent deposit amount is calculated by the amount of the escrow deposit minus the first and divided equally among the remaining years of the term of the mining license is granted.
  • Where allowed to escrow several times, organizations and individuals that mining can choose the deposit once the entire deposit amount for the entire period of mining mineral mining license level.
  • For cases of extension operators, organizations and individuals mining to formulate renovation project, additional environmental restoration and implementation of additional collateral for renewed mining activities.

The interest rate for deposits improving environmental restoration in mineral exploitation

The deposit is paid, payment and accounting of Vietnam dong. If wishing to pay in foreign currency shall be converted to the calculation of Vietnam in accordance with the provisions of the Vietnam Environmental Protection Fund. The deposit is non-term deposit interest rate and is calculated from the time of deposit.