Vietnam Top Miner Needs US$2.5B to Invest in Mines by 2015
The state-owned Vietnam National Coal-Mineral Industries Group (Vinacomin), the country’s top miner, needs US$2.5 billion to invest in its mining projects by 2015.
Vinacomin is seeking funds from the government’s prioritized official development assistances as well as other capital sources to carry out its projects.
The group also expects the government will assign the Ministry of Finance to provide loan guarantee for it foreign debts for coal projects.
It wants to use coal reserves in its mines as deposit for its future banks’ loans or for its projects to mobilize capital in the stock market.
Vinacomin had revenue of over VND42 trillion (US$2.352 billion) in the first nine months of this year.
This year, the miner expects revenue of over VND43 trillion. (National Land)
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