Business

Coal sale projected to rise in Q4

The Vietnam Coal and Mineral Industries Group (Vinacomin) aims to increase sale volume to 11.5 million tonnes in the fourth quarter, bringing the year’s total figure to 39 million tonnes, despite the ongoing stagnation predicted for both domestic and global economies.
The Vietnam Coal and Mineral Industries Group (Vinacomin) aims toincrease sale volume to 11.5 million tonnes in the fourth quarter,bringing the year’s total figure to 39 million tonnes, despite theongoing stagnation predicted for both domestic and global economies.

The figures are the result of the coal export tax cutto 10 percent on September 1, and that coal demand for power plants isexpected to grow in the dry season.

To achieve itstarget, Vinacomin is enhancing coal sale at the beginning of October toreduce its inventory. It also closely follows the market’s movements andcontrols coal quality and shipment schedules.

Inthe fourth quarter, Vinacomin is set to provide coal dust for domesticcement manufacturers, thermal power plants, Japan and China’sHainan markets.

In the first nine months of thisyear, Vinacomin earned 68 trillion VND (3.2 billion USD) in revenue and1.5 trillion VND (71.4 million USD) in profit. Nearly 39 trillion VND(1.9 billion USD) of its revenue was from coal, representing 65 percentof the yearly target.-VNA
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