Viet Nam hopes to establish long-term stable trade and investment ties with Australia and receive technology in sustainable coal mining and processing from Australia, said Minister of Industry and Trade Nguyen Hong Dien.
As mining activities are seasonal and affected by the weather, revenue and profit of coal mining businesses fluctuate continuously over the past 10 years.
All eight coal-mining companies under the Vietnam National Coal and
Mineral Industries Group (Vinacomin), listed on the two stock exchanges,
have reported larger profits in the first half of 2015.
The domestic coal supply still meets the demand, but
the country will have to import coal from 2016, according to the Viet
Nam National Coal and Mineral Industries Holding Corporation.
The Viet Nam National Coal and Mineral Industries Group (Vinacomin) is
expected to produce only 39 million tonnes of coal this year, a
significant of 4 million tonnes.
Indonesia''s State-owned coal company PT Bukit Asam (PTBA) plans to
invest in coal-fired power stations in Viet Nam while expanding their
interests in coal mining and distribution in the country.
The Viet Nam National Coal and Mineral Industries
Group (Vinacomin) is seeking approval to lower the export tax on coal,
claiming the mining industry faces difficulties due to steep decreases
in demand both at home and abroad.