Vietnam National Coal and Mineral Industries Group (Vinacomin) manufactured approximately 21.2 million tonnes of coal for power generation in the first half of this year, up 16 per cent year-on-year and fulfilling 55 per cent of the annual target.

Despite the limited mining licences and capacity, the state-owned mining company produced 20 million tonnes of raw coal, reaching 51 percent of the annual plan, which equates to 91 per cent growth compared to last year's same period and generated 25 million tonnes of commercial clean coal.

The group has been highly appreciated by the Prime Minister for its effective production management and increased coal output to meet the needs of thermal power plants, contributing to ensuring electricity supply during the peak period of hot weather.

The group's revenue was expected to surpass VNĐ87 trillion (US$3.7 billion), up 7 per cent year-on-year and representing 51.6 per cent of the annual target. The profit was projected to exceed VNĐ3 trillion, which is about 60 per cent of the annual plan and 50 per cent higher than the corresponding period's target.

Vinacomin contributed VNĐ17.6 trillion to the State budget, an 8 per cent increase compared to the same period in 2022.

Given the persistently high coal demand across various economic sectors during the remaining months of 2023, Vinacomin has outlined a strategic focus on further increasing production and exploiting approximately 10 million tonnes of coal in the third quarter. — VNS