Limits of Access and Effects of Titanium Radiation on the Human Body.

- Radiation before and after titanium ore processing has large fluctuations. Finished ore concentrate

has a radiation level 50 times higher than the original state. The radiation intensity measured in the project area according to the survey of the HTP project in the ore sand sample is 0.31 mSv (almost no effect on people), in the finished ore sample is 15.7 mSv.

Table 4-4. Limits of exposure and effects of radioactive titanium on the human body.

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Source: Environmental impact assessment report of ilmenite – zircon HTP mining project.

In which, group 1 radiation affects the whole body, gonads and red bone marrow; group 2 radiation is the remaining organs not in groups 1 and 3; group 3 radiation affects the skin, soft tissue, bones, and limbs in the human body. Thus, the finished ore will affect subjects B and C with the impact level in groups 1 and 2. According to the International Commission on Radiological Safety, each person exposed to 1 mSV per year will have a 40% chance of getting cancer.

- After exploitation, the project must restore the environment and plant casuarina forests on the exploited area (15 hectares) with an investment rate of about 15 million VND/hectare 19 .

Conversion factors help to adjust the results of financial analysis to economic analysis results. (Economic cash flow statement of HTP project in Table A.22, Appendix A)

With an estimated real cost of capital of 10%, the economic analysis results show that the economic net present value ( economic NPV ) = 1,025.91 billion VND and the project's economic internal rate of return (IRR) is much higher than the economic cost of capital. Thus, the project is completely economically feasible. However, some negative externalities that increase the cost of desalination of the mining and radioactive areas have not been included in the project's calculations (due to lack of reference data), which is a shortcoming that can change the project's results in the direction of increasing costs and reducing NPV.

The results of the calculation and distribution of externalities show that the Government's net benefit from the project is

1,084 billion VND, workers are 31.6 billion VND. Only people in the area of ​​compensation and clearance suffered a loss of about 11 billion VND. (Details of the distribution of externalities of the RDP project are in Table A.23, Appendix A).

4.2.3. Compare the economic analysis results of the RDP project and the HTP project.

The results of the economic analysis of the RDP project and the HTP project are summarized as follows: Table 4-5. Comparison of the economic analysis results of the RDP project and the HTP project.

Comparison criteria

19 Investment rate for forest plantation according to the standards of the National Target Program 661 (5 million hectare forest project). The actual cost of coastal forest plantation currently reported by the Department of Agriculture and Rural Development of Binh Thuan is about 30 million VND/hectare on average.

MIRR

E

The economic analysis results show that, although using less land area and shorter project life cycle, a titanium project has a much higher rate of return. However, the calculation here only stops at estimating the basic negative externalities brought by the titanium project (dust, noise, wastewater) without calculating and quantifying other negative externalities such as: investment costs for wastewater radioactive removal systems, investment costs for desalination systems, loss of coastal landscape, pollution of neighboring sea areas causing damage to aquatic resources, loss of coastal protection forests, increased sand blowing and desertification, loss of jobs for agriculture, fisheries and tourism... If these negative externalities are fully quantified and calculated, a titanium project may not bring the desired benefits of the Government and local authorities.

4.3. Estimate the overall benefit-cost of the titanium and tourism project.

According to Report No. 53/BC-UBND dated May 7, 2010 of the People's Committee of Binh Thuan province on the situation of titanium mineral activities, the whole province of Binh Thuan has a total of 179 projects (including tourism, afforestation, agriculture, wind power, industrial parks...) with a total area of ​​24,615 hectares that cannot be implemented (or stopped implementation) due to the land area planned for survey and exploration of titanium minerals by the Ministry of Natural Resources and Environment since 2009. Up to now, the exploration work has not been completed, the projects have not been implemented, causing damage to Binh Thuan province in the opportunity to attract investment capital for development. Some investors have switched to investing in other localities.

Of the total titanium-related projects, there are about 70 tourism projects with a total area of ​​7,420 hectares. (Details of the current status of the projects are in Table A.24, Appendix A) . According to the authority delegated by the Government, the Ministry of Natural Resources and Environment grants licenses for industrial-scale exploitation and the Committee

The people of Binh Thuan province are entitled to grant licenses for titanium mining to create clean land for the province's socio-economic projects. Currently, in Binh Thuan province, there are 18 licensed mining areas with a total area of ​​1,546 hectares, 7 licensed exploration areas with an area of ​​1,605 hectares and the remaining area has been included in the planning and survey by the Government, which is 4,269 hectares. Licensed mining projects (14 projects - 462 hectares) are valid for no more than 3 years, industrial-scale mining licenses (4 projects - 1,082 hectares) issued by the Ministry of Natural Resources and Environment are valid from 4 to 15 years.

Based on the economic cost-benefit analysis parameters of the RDP tourism project and the HTP titanium mining project to build parameters for the overall titanium and tourism projects on the licensed mining area of ​​1,546 hectares. In which:

- Land rental value of tourism projects tends to increase by an average of 10%/year due to the growth rate of tourism leading to the growth rate of urbanization and land prices.

- The positive externalities of the tourism industry have an impact on increasing other supporting service industries. The estimated contribution rate is about 2.5%, of which in 2011, the revenue from this externality is estimated at about 338 billion VND. (Refer to the tourism contribution rate in Table A.25, Appendix A)

- The land rental price of the titanium mining industry is estimated to decrease by 5% per year due to the mining process eroding the soil and requiring time for environmental restoration. (Detailed project parameters in Table A.26, Appendix A).

Table 4-6. Net analysis results of titanium and tourism projects on the area overlapping the survey boundary of the Ministry of Natural Resources and Environment.

Cash outflow

Based on the estimated economic opportunity cost of capital of 10%, the net economic benefit (NPV) of the 1,546 hectare area when implementing tourism projects is about 48.8 trillion VND; when implementing the titanium mining project, it is 12.6 trillion VND lower. The large difference between the titanium project and tourism is due to the fact that the value of land leased by the state for tourism services tends to be higher than that for titanium mining; the cost of wastewater treatment and waste discharge from the tourism industry is insignificant compared to the environmental restoration cost of the titanium project. The next section will analyze in depth the efficiency of coastal land use of the titanium and tourism projects.

4.4. Project life cycle and reclamation issues after titanium mining.

On average, the life cycle of titanium mining projects is 1-2 years, while that of industrial-scale titanium mining projects is 5-10 years, much shorter than the life cycle of tourism projects. Analyzing from the investor's perspective, a titanium project will recover its capital sooner than a tourism project, and therefore a titanium mining project will attract more investors than a tourism project. However, from the budget and social perspective, tourism projects will contribute to a stable budget and create jobs for the workforce (inside and outside the industry) in the long term.

The life cycle of the titanium recovery project is only 1-2 years with the aim of recovering titanium to implement tourism projects. However, the approved HTP project has a life cycle of 8 years, including the construction of a refinery. This contradicts the original goal of the project because if the titanium project is still in operation, it will be difficult to invest in and operate the adjacent tourism project effectively due to pollution.

Some debates surrounding the reclamation work after the titanium project ends. After reclamation, can the tourism project be implemented smoothly and ensure increased budget revenue as targeted?

has been proposed or not? Considering the situation after titanium mining in Ha Tinh province, surveyed by Saigon Economic Times in 2009, it shows that land reclamation and environmental remediation after titanium projects is quite costly in terms of time and money. The unbalanced ecosystem will need time to recover to its original state. Regarding the reclamation work after mining in Binh Thuan, in addition to changing the terrain of the area during the implementation process, the titanium project also consumes a much larger amount of groundwater than the water supply capacity in the area. For arid coastal areas, the daily groundwater source is only enough to supply 1/10 of the demand for ore-processing water. Therefore, to ensure capacity, businesses often use coastal saltwater to process ore. The report of the Department of Natural Resources and Environment (2009) shows that nearly 100% of enterprises use seawater to select ores, increasing investment costs for "post-titanium recovery" projects, especially investment projects in afforestation and ecotourism. Thus, it is difficult for coastal ecotourism projects to be implemented immediately after the withdrawal of titanium projects and the costs of environmental remediation, if not carefully calculated, will be invisibly transferred to tourism projects invested later, increasing costs and reducing investment efficiency of tourism projects.

4.5. Analysis of land use efficiency of tourism projects and titanium projects.

4.5.1. Land use location of tourism projects.

The location of a tourism project plays a decisive role in attracting visitors and generating revenue for the project. Typically, a coastal tourism project has the following three locations:

Figure 4-1. Locations of coastal tourism projects.

- For location 1, the adjacent area can be invested in tourism projects and the land area opposite the coastal traffic route can be used as ancillary areas for the tourism industry such as: cafe shops, handicraft stores, motels, private restaurants, travel services, etc. The tourism development model according to location 1 is currently popular in Ham Tien - Mui Ne tourist area.

- Location 2 is similar to location 1 for tourism projects located on both sides of coastal roads, tourist areas and auxiliary areas can be built on both sides. This type is popular in places with low sea surface areas such as Hon Rom, Tien Thanh, Ke Ga.

- Location 3 is for tourist areas that take advantage of land planned for public beaches. These locations are often located in the heart of central tourist areas such as: Phan Thiet, Mui Ne.

(For tourism development direction from 2006 - 2010, refer to Figure B.2, B.3, Appendix B)

4.5.2. Land use location of titanium projects.

Investment locations for coastal titanium projects can be divided into 3 locations as follows: Figure 4-2. Locations of coastal titanium projects.

- Location A, coastal exploitation, the land inside, opposite the project is often vacant land or used by the investor as a drying yard.

- Location B, similar to location A, the neighboring lands cannot be invested in tourism projects and lack ancillary facilities due to low shopping demand.

- Location C is located inside the coastal traffic route, however the coastal area is used to discharge wastewater after ore selection. The adjacent area is not used for any other types of ancillary investment.

(Land use results of the titanium industry from 2006 – 2010 refer to Figure B.4, Appendix B)

4.5.3. Comparison of land use efficiency of tourism and titanium projects.

At the same coastal location, titanium mining projects do not have positive externalities to supporting service industries like coastal tourism projects. Therefore, the average value of a tourism project often increases steadily over the years. Comparing the land rental price of 20 tourism projects (Phuc Khe, Huyen Trang) in Thuan Quy area (a tourism development area in Ham Thuan Nam) is on average 376 thousand VND/m2 for location 1 and 188 thousand VND for location 2. Meanwhile, the average land price of tourism projects (Thuy Trang) in the tourism development area (Mui Ne, Phan Thiet) is on average 2.47 million VND/m2 for location 1. Thus, the efficiency of tourism land use is

on the budget side more efficient land for titanium mining use.

4.6. Analysis of labor efficiency.

The titanium industry's labor force is shorter and less stable than the tourism industry because the life cycle of a titanium mining project is often much shorter than that of a tourism mining project. Labor productivity and labor force of some economic sectors in recent times:

Table 4-7. Average labor productivity of Binh Thuan province.

Unit: Million VND/person

Source: Binh Thuan Provincial Statistics Office (2009)

The average labor productivity of the restaurant and hotel industry is much higher than other industrial projects and creates jobs for the majority of local workers, especially coastal workers. According to the draft of the Binh Thuan Tourism Development Plan to 2030, by 2015, the tourism industry will create jobs for nearly 15,000 direct workers and 30.7 thousand indirect workers.

20. Appraisal price of Southern Appraisal Company according to the report of Binh Thuan Department of Finance in Official Dispatch No. 486/STC-QLCS dated November 29, 2011 on the request to re-decide land price close to market price to collect land use fees for projects in the province.