About 20% of businesses will have their mining licenses revoked.

The reason given by the Ministry of Natural Resources and Environment is that businesses cannot afford to pay for mineral exploitation rights.

Decree No. 203/ND-CP regulates the collection of fees for granting mineral exploitation rights to tighten the management of mineral activities and ensure State budget revenue.

The implementation of this Decree will limit inefficient businesses. The Ministry of Natural Resources and Environment said that in 2015, it is expected that about 20% of businesses will have their licenses revoked due to their inability to pay the mining rights fee.

Mr. Nguyen Van Thuan, General Director of the General Department of Geology and Minerals, said: to avoid budget losses when calculating mining rights fees, inspection, examination and exploration work is closely monitored by the authorities: “This is a new issue, there are many problems that must continue to be resolved in 2015. The inspection is directed to the end. After the first inspection, conclusion, deadline, after 90 days, the investigation will continue and the investigation will be completed, and heavy fines will be imposed”./.

According to VOV