On 21/3, an official from the Ha Tinh Department of Finance announced the completion of the handover of nearly 30 kg of pure gold to a company based in Thanh Vinh ward, Nghe An. The transfer occurred three days prior, following the company's fulfillment of all financial obligations.

A company representative stated that the gold would be refined to achieve 99,99% purity before being crafted into jewelry.

On the morning of 12/3, the Ha Tinh Department of Finance held a lottery for the right to purchase nearly 30 kg of publicly owned gold. Six enterprises participated, each required to deposit over 28 billion VND (20% of the asset value), which was non-refundable if the transaction was canceled. The gold and silver trading company from Thanh Vinh ward, Nghe An, ultimately secured the purchase right.

Customers cast votes during the gold purchase lottery, morning of 12/3. *Photo: Hung Le*

The purchasing enterprise, established in early 2022, primarily engages in the trade of gold, silver, and precious metals. It also holds registrations for metal production, processing, jewelry crafting, and various related wholesale and retail activities.

Under regulations, assets "established under public ownership" include those confiscated, ownerless, or with unidentified owners, following legal processing by authorities. The State manages these assets, which may be sold through auction or at a fixed price to contribute to the state budget.

In Ha Tinh, this gold originated from smuggling cases, discovered and confiscated by the Ha Tinh Provincial Police's Economic Police Department in 2024.

Pure gold (Au) is nearly elemental, equivalent to 24K gold, though not necessarily branded gold bars sold commercially. With one luong equivalent to 37,5 grams, nearly 30 kg of gold amounts to approximately 800 luong. Based on current domestic gold bar prices, ranging from 173-176 million VND per luong, the market value of this gold is estimated at 138-141 billion VND.

Duc Hung