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Official Gazette

Friday, April 28, 2017

Control of mineral trading to be tightened

Updated: 08:20’ - 24/09/2016
Exported minerals would have to be included in the list of those eligible for export, and processed up to the quality standards promulgated by the Ministry of Industry and Trade or under the Prime Minister’s direction.
Exported minerals would have to be processed up to the quality standards promulgated by the Ministry of Industry and Trade__Photo: Internet

According to a draft decree on mineral exploitation and trading recently proposed by the Ministry of Industry and Trade for public comment, mineral trading in form of temporary import for re-export, border-gate transfer, transit, processing under processing contracts with foreign traders, or processing overseas must comply with this draft decree, relevant regulations and Vietnam’s commitments in treaties to which Vietnam is a contracting party.

Under the draft, Ministry of Industry and Trade would consider and permit export of finished products from minerals processed overseas and the remaining volume of minerals imported for use in Vietnam, which are not on the list of those eligible for export.

Mineral processing establishments hired by foreign traders to process minerals not on the list of those eligible for export would be required to register with the Ministry of Industry and Trade the volume and quality of imported minerals and exported products as stated in contracts signed with foreign traders.

The draft also requires these processing establishments to comply with the regulations on management of investment and construction projects, and have processing technologies satisfying the environmental safety and protection requirements.- (VLLF)
 

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