Vietnam Ministry Seeking Okay to Raise Coal Prices This Year
The Vietnamese Ministry of Industry and Trade is seeking the government’s approval to hike coal prices for fertilizer, cement and paper production within this year.
Under the proposal, which has been sent to the Prime Minister Nguyen Tan Dung, the ministry also suggested floating coal prices for power production from 2010, the source said.
The ministry is seeking the Ministry of Finance’s permission to keep coal export tax at 10% within this year and cut the tax to 5% from next year.
Vietnam’s coal exports will fall from 2012 but the country will continue to export between three and five million tons of high-quality coal per year to Japan, the ministry said.
It is seeking the government’s approval for the state-owned Vietnam National Coal-Mineral Industries Group (Vinacomin), the country’s top miner, to carry out coal exploration in four areas in the northern province of Quang Ninh. (Vietnam Economic Times)
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