The Vietnam National Coal and Mineral Industries Holding Corporation(Vinacomin) has urged members to fully exploit market conditions, ascoal consumption in the second quarter could face difficulties.
Inan online meeting last week, Nguyen Van Bien, Deputy Director ofVinacomin, the country's top miner said that coal demands are low whilethe world's coal prices in the second quarter are declining comparedwith the first quarter.
Vinacomin's inventory remains high at roughly 600,000 tonnes of coal, Bien said.
Vinacomintargets to produce and consume 9 to 10 million tonnes of coal in thesecond quarter of 2014. The corporation is also hoping to complete 50-52percent of the year's target in the first half of the year.
Besidesencouraging members, whose production costs are low, to increase outputin the second quarter, Vinacomin also requires other members withhigher production costs to cut output.
In the first quarter ofthis year, despite the unfavourable weather, members of Vinacomin hadmanaged to maintain their production levels, ensure jobs and income fortheir employees.
Vinacomin completed 25 percent of its annualplans. The corporation produced 9.7 million tonnes of coal, fulfilling25.6 percent of yearly plan. Coal consumption was estimated at 9.35million tonnes, meeting 26.7 percent of yearly target.
The groupgenerated 25.8 trillion VND (1.22 billion USD) revenues or 24.5 percentof annual plan, up 8.5 percent on year. Notably, revenues fromelectricity production and sales hit 31.1 percent of yearly plan.
Vinacomin'scoal consumption last year was estimated at 39 million tonnes, almostthe same as that of 2012, including 11.6 million tonnes for exports,down 19.6 percent, year on year and 27.4 million tonnes of domesticconsumption, up 11 percent, year on year.-VNA
Inan online meeting last week, Nguyen Van Bien, Deputy Director ofVinacomin, the country's top miner said that coal demands are low whilethe world's coal prices in the second quarter are declining comparedwith the first quarter.
Vinacomin's inventory remains high at roughly 600,000 tonnes of coal, Bien said.
Vinacomintargets to produce and consume 9 to 10 million tonnes of coal in thesecond quarter of 2014. The corporation is also hoping to complete 50-52percent of the year's target in the first half of the year.
Besidesencouraging members, whose production costs are low, to increase outputin the second quarter, Vinacomin also requires other members withhigher production costs to cut output.
In the first quarter ofthis year, despite the unfavourable weather, members of Vinacomin hadmanaged to maintain their production levels, ensure jobs and income fortheir employees.
Vinacomin completed 25 percent of its annualplans. The corporation produced 9.7 million tonnes of coal, fulfilling25.6 percent of yearly plan. Coal consumption was estimated at 9.35million tonnes, meeting 26.7 percent of yearly target.
The groupgenerated 25.8 trillion VND (1.22 billion USD) revenues or 24.5 percentof annual plan, up 8.5 percent on year. Notably, revenues fromelectricity production and sales hit 31.1 percent of yearly plan.
Vinacomin'scoal consumption last year was estimated at 39 million tonnes, almostthe same as that of 2012, including 11.6 million tonnes for exports,down 19.6 percent, year on year and 27.4 million tonnes of domesticconsumption, up 11 percent, year on year.-VNA
