Coal Industry Targets $1.3Bln Revenue in 2005
Vietnam’s coal industry expects to earn total revenues of VND20.9 trillion ($1.32 billion) this year, a rise of 37.6 per cent against last year, of which profits accounts for VND2.3 trillion ($145.6 million).
The Vietnam Coal Corporation (Vinacoal),the country’s largest coal producer, expects to sell 29.5 million tons of coal this year, of which 15.3 million tons for domestic consumption and 14.2 million tons for exports, according to a Vinacoal official.
The corporation has so far this year assembled nearly 500 heavy trucks, produced and sold 61,000 tons of explosives and 240,000 tons of cement.
Vinacoal also targets to sell 31 million tons of clean coal in 2006, of which 16.5 million tons for domestic consumption and 14.5 million tons for outbound sales.
According to the development strategy for the coal industry in Vietnam, the country targets to reach coal output of around 35-40 million tons in 2010, 50-60 million tons in 2015 and 60-70 million tons in 2025.
Coal is an abundant mineral in Vietnam with reserves estimated at 2,345 million tons of anthracite, 78 million tons of semi-anthracite, 38 million tons of coking coal, 96 million tons of thermal coal and 306 million tons of lignite.
Vietnam & World Economy
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