Vinacomin aims to sell 39m tonnes of coal in 2018

Wednesday, Jul 18, 2018 16:14

Vinacomin’s Tay Nam Da Mai Coal Mine in Quang Ninh Province. — VNA/VNS Photo Trong Dat

The Viet Nam National Coal and Mineral Industries Group (Vinacomin) aims to sell 38.5-39 tonnes of coal, including 34.2 million tonnes of clean coal, by the year-end, up 1.32 million tonnes from last year.

As part of efforts to realise this goal, Vinacomin has asked its units to balance production and demand to reduce inventories, while making rational investments and streamlining the apparatus in accordance with their restructuring plans.

The group has produced over 20 million tonnes of coal, including 19.3 million of clean coal, since the beginning of this year. During that time, it has sold approximately 22 million tonnes of coal, 3.8 million tonnes higher than the same period last year.

The group posted revenue of about VND66 trillion (US$2.89 billion) in the period and estimated to have 6.53 million tonnes of coal in stock, a decrease of 2.47 million tonnes from the start of the year.

The firm’s production of alumina stood at 654,000 tonnes. The period’s positive business performance was attributed to Vinacomin’s effective market research which allowed the group to sell its products at the right time when the prices were up.

The group foresees local demand for coal for production of electricity, cement and fertiliser to remain high so top priority should be given to balancing production and sales to reduce the inventory while better meeting the demand. — VNS

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