The Vietnam National Coal-Mineral Industries Group (Vinacomin) aims to sell 13.2 million tonnes of coal in the second quarter of this year, or equivalent to 53 per cent of the yearly target.

Vinacomin also strives to exploit 10 million tonnes of coal in Q2. The group announced these goals during a conference reviewing its Q1 performance and launching Q2 tasks in Quang Ninh Province on Tuesday.

To this end, Vinacomin will focus on facilitating the implementation of the project on renovating and expanding the capacity of the Cao Son coal mine.

At the same time, it will keep a close watch on thermal power plant demand for coal to outline coal production and import plans.

The group produced 9.64 million tonnes of coal in the first quarter, down 4.6 per cent year-on-year, or fulfilling 25 per cent of its annual production plan.

During Q1, it sold 11.45 million tonnes of coal, up 1 per cent year-on-year or equivalent to 24.5 per cent of the yearly target.

Revenue in the first quarter was estimated at over VND40.59 trillion, up 20 per cent over the same period last year, with VND10.9 trillion contributed to the State budget.

Its profit reached an estimated VND1.3 trillion or 26 per cent of the target set for the year. — VNS