Vietnam's vast gold riches exported, bring no benefits at home

TN News

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Miners have dug up more than 4.5 tons of gold and 1.6 tons of silver from two mines in a central province over the past eight years, but the riches have not benefited the people of Vietnam.

The Bong Mieu and Dak Sa mines in Quang Nam Province are run by the Phuoc Son Gold Mining Company and Bong Mieu Gold Mining Company.

Over the past eight years, Quang Nam authorities collected only VND162 billion in relevant taxes from the two companies, VietNamNet reported.

At a recent meeting with Phuoc Son Gold Mining Company, deputy chairman of Quang Nam People's Committee Nguyen Ngoc Quang said all gold exploited in Quang Nam had been licensed for export.

But he said gold should be produced for local consumption to bring higher revenues to the state exchequer.

He also said action must be taken to control illegal exploitation which has been a "very complicated" problem in the central province.

Quang Nam has the richest gold reserves in Vietnam.

According to VietNamNet, illegal gold mining over the past 20 years has had serious adverse environmental effects, including damaged upstream forests and water pollution.

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