The Vietnamese coal industry was initiated over a century ago and the revolutionary coal industry has experienced 75 years of glorious development. The traditional day of the Vietnamese coal industry was backdated to November 12, 1936 when a general strike of more than 30,000 coalminers ended in landslide victory, marking the glorious history of the heroic revolutionary struggle for class liberation and mine liberation, and contributing to the cause of national liberation.
In 1994, the Prime Minister signed Decision 563/TTg establishing the Vietnam Coal Corporation (Vinacoal), which was later renamed the Vietnam National Coal, Mineral Industries Holding Corporation Limited (Vinacomin). The formation of the giant coalminer provided better groundwork for the coal industry to increase the pace of development, renovate thinking, and seek out appropriate methods.
In the light of its glorious tradition, all members of the Vietnam National Coal, Mineral Industries Holding Corporation Limited always complete annual operating targets, with rising annual outcomes.
Every step of the coal and mining industry has impacted national economic development. The coal industry not only meets the needs of the national economy but is also an important forex earner for the country. Working environment and conditions are improved continuously and the living standards of coalminers are getting higher.
In 2010, the Vietnam National Coal, Mineral Industries Holding Corporation Limited (Vinacomin) produced 44.8 million tonnes of coal and a variety of products like electricity, mechanical products and other services. Its revenues totalled VND69.9 trillion (US$3.5 billion); net profit reached VND6 trillion; and average monthly income for employees was VND6.2 million.
In 2011, Vinacomin targets revenues of over VND70 trillion.
The group also strengthened international cooperation. Vinacomin has expanded its operation to Laos, Cambodia and Russia. It is also actively exploring new coal sources for future import for electric production.
Vinacomin also explores new reserves, applies advanced technologies to production, and organises and participates in social activities. These are very basic achievements, but they ensure the stable and sustainable development of the group.
In the coming time, Vinacomin will explore mineral sources to ensure the production of coal and other minerals. Besides, the group also attaches greater importance to boosting occupational safety, raising living standards of workers, expanding emulative activities and improving corporate governance.
Hương Ngoc
Vietnamese
