Coal Production Stable despite Unfavourable Weather

11:29:35 AM | 9/15/2014

The Vietnam National Coal, Mineral Industries Holding Corporation Limited (Vinacomin) reported to rake in VND66 trillion (US$3 billion) in the first eight months of 2014, equal to 62.5 percent of the full-year plan and up 13 percent over the same period of 2013.
In August, rains directly affected the group’s production operations. Therefore, the coal production output in August was lower than previous months. Vinacomin exploited 2.6 million tonnes of raw coal output and sold 2.4 million tonne in the month. Revenue from coal sold was estimated at VND3,565 billion, minerals at VND468 billion, electricity at VND543 billion, and mechanical business at VND335 billion.
Raw coal output reached 24.7 million tonnes in the first eight months, fulfilling 65.6 percent of the full-year plan while coal sold was 23.5 million tonnes, or 67.1 percent of the annual plan. The group’s revenue was estimated at VND65,995 billion in the eight-month period, accounting for 62.5 percent of the annual plan and rising 13 percent over the same period in 2013. Specifically, coal revenue was VND34,605 billion, equal to 65.2 percent of the yearly plan and up 8 percent year on year.
Vinacomin is seeking solutions to gradually stabilise production, guarantee employment and incomes for workers, ensure social security, and invest in new mines and other projects.
The coal industry strives to increase labour productivity by at least 5 percent each year and reduce production costs by 3-5 percent a year.
Huong Giang