The new decree is set to curb with illegal mining in Viet Nam. This gold mine is one among those in the central highlands province of Gia Lai.— Photo Baogialai.com.vn

HA NOI (Biz Hub) —The maximum fine of VND2billion (US$95,200), as much as 20 times higher than the previous penalty, will be issued as of December 15 to those who mine minerals without a license.

According to the Decree No 142/2013/ND-CP on administrative sanctions of violations on mineral and water resources, individuals mining for gold, silver, and other valuables without a license, or mining for toxic minerals, can be fined a maximum of VND1 billion($47,600), while enterprises found guilty can receive a maximum fine of VND2 billion($95,200).

The decree, which came into affect on December 15, seeks to control mineral mining, especially valuable and toxic minerals, along with those mining with an expired license or exceeding the amount of minerals to be mined.

The new decree also applies new fines to those illegally using water resources.

Beside paying fines, all violators would be responsible for the consequences caused by their illegal activities, according to the decree, adding that authorities have the power to revoke the licenses of violators.

According to a report from the Ministry of Natural Resources and Environment, there were about 4,800 different mineral mining licenses issued nation-wide on different levels, and the report said it was difficult to manage and inspect these license holders.

According to the Department of Geology and Minerals of Vietnam, the country has gold reserves estimated at 154 tonnes. The department also estimated that the country had 664 million tonnes of titanium-zircon, adding that there are only 1,400 million tones of titanium reserves worldwide. —VNS