Vinacomin Making Efforts to Ensure Constant Coal Flows

Located in Southeast Asia, Vietnam is rich in mineral resources - precious potential resource for the country. Functioned as one of three backbone pillars assigned to ensure national energy security, Vinacomin is a State-owned economic group designated to exploit, process and trade coal and minerals. Vinacomin is currently operating in the country's largest coal mines as anthracite coal basin in Quang Ninh (10.5 billion tonnes), Red River Delta coal basin (210 billion tonnes), inland coal mines (400 million tonnes ) and peat deposits (7 billion cubic meters), deposited bauxite (400 million tonnes), fossilised bauxite (8 billion tonnes), iron ores and bronze ores in large reserves.

 

With a long glorious revolutionary history and tradition, Vinacomin is not only the cradle of the Vietnamese working class but also the source of the most important industry which plays an irreplaceable role in the country’s process of industrialisation and modernisation. With the great responsibility entrusted by the State, the entire staff of the group, from generations to generations, has spared no effort to develop Vinacomin into a leading coal and mineral supplier for the country and the world. Vinacomin has also expanded cooperation with domestic and foreign partners to continually access new technologies to boost trade promotion activities and build Vinacomin brand position on the international market.

 

Together with manufacturing and business development strategy, Vinacomin exercises social responsibility with a pro-community vision. While the globe is warning because of climate change and natural resources are depleting, Vinacomin always determines to exploit and manage natural resources effectively and protect and restore environment because of future sustainable development. The group implements the long-term "green and sustainable development" strategy with the goal of preventing damage, improving the environment, and reducing negative impact on surroundings. It also does environmental feasibility study and environmental impact assessment for all construction and renewable projects. It also installs pollution-preventing and controlling equipment in every mine.

 

With its efforts, Vinacomin has achieved remarkable results. In 2011, the revenues totalled over VND87,615 billion, profits valued at VND8.6 trillion, and income per capita was VND8 million a month. In 2012, Vinacomin has focused on key fields of coal, mineral and electricity. It has developed supporting industries and services, improved the organizational structure and corporate governance, and cut costs. In addition, the Vinacomin has adhered to and complied with policies and guidelines of the Party, and laws of the State and the administration of the Government.

 

Vinacomin has clearly defined industry development strategies, followed market developments, and sought timely solutions to deal with difficulties. Moreover, the group is determined and persistent to implement development strategies creatively to ensure major balances to have resources to cope with challenges, and grasp every opportunity to develop. By promoting the tradition "Discipline and unity", the staff of Vinacomin will surmount all difficulties and challenges efforts to implement its objectives.