Vinacomin records stable consumption in nine months

Thứ Năm, 13/10/2016, 08:27

The Vietnam Coal-Mineral Industries Holding Corporation (Vinacomin) produced 26.7 million tonnes of coal and sold 25.5 million tonnes in the last three quarters, heard a conference in the northern province of Quang Ninh on October 11.

Of this, the domestic consumption reached 25.1 million tonnes while 372,000 tonnes were exported.

According to Vinacomin General Director Dang Thanh Hai, the firm plans to sell over 35 million tonnes of coal in 2016, and pour more investment into its mines to meet increasing domestic demand after 2017.

The corporation will encourage its subsidiaries to produce high-quality coal, increase production and reduce imports, while applying modern technologies in underground mining projects to improve productivity, he said.

At the conference, Deputy Director Nguyen Van Bien pointed out difficulties facing the coal sector such as fiercer competition with imported coal, falling price and increased taxes.

Vinacomin had to reduce production in order to maintain a proper inventory level and ensure effective business operations, he said.

At present, the sector reports nearly 11 million tonnes of coal in inventory, including 8.9 million tonnes of processed coal and 1.9 million tonnes of raw coal.

VNA