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The rare earth mine exploited by Thai Duong Company is located in Yen Phu Commune, Van Yen District, Yen Bai Province. |
On December 1, the Investigation Police Agency of the Ministry of Public Security revealed that after extending their investigation into the case involving "Violations of regulations on research, exploration, and exploitation of natural resources" and "Violations of regulations on accounting causing serious consequences" at Thai Duong Group Joint Stock Company (Thai Duong Company) and associated entities, the agency has decided to initiate criminal proceedings for the offense of "Smuggling."
In addition to the decision to supplement the initiation of criminal proceedings, the Investigation Police Agency has taken legal measures against specific individuals. Specifically, charges have been filed, and travel restrictions have been imposed on Nguyen Quang Manh, CEO of Yen Phu Mine, for the offense of "Violations of regulations on research, exploration, and exploitation of natural resources." Manh is alleged to have aided Doan Van Huan, Chairman of the Board of Directors cum CEO of Thai Duong Company, in directing and organizing the illegal exploitation and sale of over 160,000 tons of rare earth and iron ores, resulting in illicit gains of over VND632 billion.
At the same time, the Investigation Police Agency has pressed charges against Luu Anh Tuan, Chairman of the Board of Directors of Vietnam Rare Earth JSC (VTRE). They have also initiated charges, temporarily detained, and searched the residence of Do Hanh Huong, Deputy Director of VTRE. Moreover, authorities have filed charges, imposed travel restrictions, and carried out searches for Pham Xuan Hau and Pham Thi Yen, employees in the Import-Export Department of VTRE, on charges of "Smuggling." These individuals are alleged to have submitted deceptive customs declarations for the unlawful export, selling over 470 tons of rare earth valued at over VND380 billion to foreign partners between 2019 and 2023, resulting in an estimated loss of over VND82 billion in export taxes for the State.
On October 20, individuals implicated at Thai Duong Company, including Doan Van Huan (Chairman of the Board of Directors), Nguyen Van Chinh (Deputy CEO), and Dang Tran Chi (Director), were formally charged and temporarily detained for investigation regarding the offenses of "Violations of regulations on research, exploration, and exploitation of natural resources" and "Violations of regulations on accounting causing serious consequences."
