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 figures are the result of the coal export tax cut to 10 percent on September 1, and that coal demand for power plants is expected to grow in the dry season.
To achieve its target, Vinacomin is enhancing coal sale at the beginning of October to reduce its inventory. It also closely follows the market’s movements and controls coal quality and shipment schedules.
In the fourth quarter, Vinacomin is set to provide coal dust for domestic cement manufacturers, thermal power plants, Japan and China’s Hainan markets.
In the first nine months of this year, Vinacomin earned 68 trillion VND (3.2 billion USD) in revenue and 1.5 trillion VND (71.4 million USD) in profit. Nearly 39 trillion VND (1.9 billion USD) of its revenue was from coal, representing 65 percent of the yearly target.-VNA
The figures are the result of the coal export tax cut to 10 percent on September 1, and that coal demand for power plants is expected to grow in the dry season.
To achieve its target, Vinacomin is enhancing coal sale at the beginning of October to reduce its inventory. It also closely follows the market’s movements and controls coal quality and shipment schedules.
In the fourth quarter, Vinacomin is set to provide coal dust for domestic cement manufacturers, thermal power plants, Japan and China’s Hainan markets.
In the first nine months of this year, Vinacomin earned 68 trillion VND (3.2 billion USD) in revenue and 1.5 trillion VND (71.4 million USD) in profit. Nearly 39 trillion VND (1.9 billion USD) of its revenue was from coal, representing 65 percent of the yearly target.-VNA
