Friday, April 28, 2017 - 9:33:47

Coal consumption improves in Q1

VNA Print

Illustrative photo (Source: VNA)

Quang Ninh (VNA) - The Vietnam National Coal and Mineral Group (Vinacomin) sold 8.6 million tonnes of coal in the first quarter of 2017, up 3 percent compared to the same period last year.

Of the total, 185,000 million tonnes were shipped overseas.

Vinacomin released the figures while reviewing its operation in the first three months at a conference in the northern province of Quang Ninh on April 10.

The group reeled in nearly 13 trillion VND (572 million USD) from coal sales and contributed more than 4.3 trillion VND (189.2 million USD) to the State budget.

However, combined coal inventories came to 9.3 million tonnes, higher than the regulated amount of 8.5 million tonnes.

Vinacomin Deputy General Director Nguyen Ngoc Co said the group has faced challenges selling its coal products due to high cost and coal imports from foreign countries.

The business strategy for the next quarter will prioritise production restructuring with a focus on technology and adjust output according to market demand, he noted.

Goals set for the coal sector in the second quarter included the exploitation of 8 million tonnes and selling of at least 9 million tonnes.

At the conference, alumina business was also mentioned as a highlight of Vinacomin’s performance in the first quarter, with the total output of over 312,000 tonnes, which was sold out.-VNA
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