The Vietnam National Coal and Mineral Group (Vinacomin) has accelerated coal production and sales in order to meet targets set for the first six months of this year.
Vietnam National Coal and Mineral Group (Vinacomin) has accelerated coal production and sales. (Photo: VNA)
Hanoi (VNA) – The Vietnam National Coal and Mineral Group (Vinacomin)has accelerated coal production and sales in order to meet targets set for thefirst six months of this year.
The group said that its coal output during January-May reached 16.87 milliontonnes while 17.6 million tonnes were sold, or 47.7 percent and 48.9 percent ofthe set yearly target. Of the total sales, 16.87 million tonnes were consumeddomestically and 727,000 tonnes were exported.
Inthe period, the group’s revenue was estimated at 52.5 trillion VND (2.28billion USD), accounting for 46.1 percent of the yearly plan and up 23 percenton a yearly basis.
Coalinventories of the sector were around 7.35 million tonnes, down 1.66 milliontonnes from the beginning of the year.
In June, Vinacomin aims to produce 3.4 million tonnes of coal and sell 4million tonnes, of which 3.77 tonnes will be sold to domestic customers and230,000 tonnes exported, thus reducing the coal inventories to under 7 milliontonnes.
Thegroup has revised its coal sale target from 36 million tonnes to 38 milliontonnes in 2018.
Global high coal prices are creating favourable conditions for Vietnam’s coalexport, according to Vinacomin. From mid-May, coal price has increased to morethan 100 USD per tonne.
Aspart of efforts to realised the goal, Vinacomin has asked its units to balanceproduction and demands to reduce inventories, while making rational investmentand streamlining the apparatus in accordance with their restructuring project.
Vinacomin’smembers have focused on coal that is in high demand and processed high-qualitycoal. High productivity was recorded in Deo Nai coal company, Coc Sau company,Duong Huy company, and Tay Nam Da Mai company.
Besides coal, the group aims to produce 112,000 tonnes of alumina and 850million kWh of electricity in June, bringing the total production in thesix-month period to 660,000 tonnes and 5.1 billion kWh, accounting for 54percent and 55 percent of the set target for the whole year, respectively.-VNA
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Vietnam National Coal and Mineral Group (Vinacomin) has accelerated coal production and sales. (Photo: VNA) 
