JOINT CIRCULAR No. 16 TT/LB/TC-LDTBXH guiding temporarily the reward and incentive system for the discovery, exploration, exploitation, and protection of gold and precious stones extracted from underground.

JOINT CIRCULAR

GUIDELINES FOR TEMPORARY INCENTIVE REGIME FOR REWARDS AND BENEFITS IN THE DISCOVERY, PROSPECTING, MINING, AND PROTECTION OF GOLD AND PRECIOUS STONE DEPOSITS FROM UNDERGROUND

Pursuant to Decision No. 76/HĐBT dated May 13, 1987 of the Council of Ministers on "exploration, mining, processing, and trading of gold and precious stone deposits from underground";

In order to encourage the discovery, search, exploration of mineral deposits, promote the organization of mining activities, and protect gold and precious stone resources, the Ministry of Finance and the Ministry of Labor, War Invalids and Social Affairs provide temporary guidelines for incentive regimes regarding the discovery, exploration, mining, and protection of gold and precious stone deposits from underground as follows:

I. Rewards for reporting ore, discovering gold and precious stone mineralization points, and discovering mines:

1/ Rewards for reporting ore and discovering gold and precious stone mineralization points.

Every Vietnamese citizen (including workers, officials, and military personnel) who contributes to reporting ore and discovering mineralization points of gold and precious stones shall be rewarded. The head of the unit and the Scientific and Technical Council of the Geological Team or Union shall receive, examine, evaluate, and decide on rewards.

- The reward amount for reporting ore and discovering gold and precious stone mineralization points ranges from 5,000 to 50,000 VND (equivalent to 10 to 100 kilograms of rice at the guaranteed business price).

- The reward fund for reporting ore and discovering gold and precious stone mineralization points shall be recorded in the cost of geological survey and exploration of the General Department of Mines and Geology.

2/ Rewards for discovering gold and precious stone mines:

- Discovering a mine may be carried out by an individual or a collective of one or more different geological units. The mine discovery results must be approved by the State-level or General Department-level Mineral Reserve Review Board based on the geological survey report. A mine discovery can only be recognized when the mine area has been approved as having industrial value at various levels.

- The reward amount for discovering gold and precious stone mines is calculated at 0.1% of the value of the mine reserves at level C1 + C2 with a reliable exploitation factor (excluding loss factors). Specifically:

Reward Amount = Value of Mine Reserves x 50% x 0.1%.

- The reward fund for discovering gold and precious stone mines is derived from the mine discovery and geology fund, which is calculated at 0.01% of the estimated budget for geological survey and exploration projects and is recorded as a separate item in the project budget.

If insufficient, additional funds up to 10% of the fund may be mobilized, encouraging production development by the unit, decided by the General Department Director of Mines and Geology.

II. Rewards for inventions, innovations, and patents in analysis, mining, and refining of gold and precious stones:

Rewards for inventions, innovations, and patents in the analysis, mining, and refining of gold and precious stones shall be implemented according to Decree No. 31/CP dated January 23, 1981 and Decision No. 92/HĐBT dated August 5, 1986 of the Council of Ministers on rewarding inventions, innovations, and patents.

III. Rewards for preserving and submitting valuable samples related to gold and precious stone resources and protecting these resources:

1/ Any Vietnamese citizen (individuals or collectives) who discovers and preserves valuable samples, natural gold, and precious stones with special significance (large size, special scientific significance) or related samples shall be rewarded as follows:

- The State will purchase these samples at a special price and additionally reward an amount equal to 10% of the sample's value.

- If the specific monetary value of the sample cannot be determined, the General Department of Mines and Geology or the agency using the sample will reward an amount ranging from 5,000 to 50,000 VND (equivalent to 10 to 100 kilograms).

- These protective forces shall enjoy meal allowances organized by exploration and mining units.

- Additionally, exploration and mining units may use part of their reward and welfare fund to reward individuals and units within the aforementioned protective force who have made contributions during the planning year.

V. Implementation Provisions

This temporary reward system shall be applied from May 1, 1988.

All previous regulations contrary to this Circular shall not be enforceable.

Place of Receipt:

- Council of Ministers

- General Department of Mines and Geology, Ministry of Industry and Construction,

Ministry of Energy, Ministry of Interior, Ministry of Defense, Ministry of Materials, Ministry of Construction, Ministry of Justice, State Bank of Vietnam, National Planning Committee, National Assembly, State Audit Office, National Mapping and Surveying Agency, Supreme People's Court, Supreme People's Procuracy, Vietnam General Confederation of Labor

- Central Committee Economic Commission, Central Committee Science and Technology Commission, Central Committee Propaganda and Training Commission

- Provincial People's Committees, city people's committees, special zone people's committees

- State-owned enterprise revenue collection agencies

- Departments, Bureaus, Institutes, Rooms, and Offices under the Ministry

- File: Ministry of Finance

Ministry of Labor, War Invalids and Social Affairs.