Business

Coal sector aims to surpass yearly target

The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) strives to sell over 36 million tonnes of coal in 2017, an increase of one million tonnes compared to 2016.
Coal sector aims to surpass yearly target ảnh 1Coal sector aims to surpass yearly target (Source: VNA)

Hanoi (VNA) - The Vietnam NationalCoal-Mineral Industries Holding Corporation Limited (Vinacomin) strives to sellover 36 million tonnes of coal in 2017, an increase of one million tonnes comparedto 2016.

Of which, domestic coal consumption will be more than 34 million tonnes whilethe remaining 2 million tonnes are for export.

The group has signed trade contracts in 2017with both domestic and foreign customers, as well as insurance and transportationagreements. It has also exchanged long-term coal export contracts with Japanesepartners.

Minister of Industry and Trade Tran Tuan Anhsaid the ministry has proposed the Government remove difficulties for the coalindustry, particularly issues relating to production costs and environmentalfees, in order to make domestic coal prices more competitive in the market.

The ministry has created the best conditions forcoal exports but some difficulties still lie ahead due to technical barriersfrom China, he said, adding that there would be a lot of changes in mechanismsand policies benefiting the coal sector, including the reduction of coalinventories.

In late 2016, the Government officially allowedVinacomin to increase the export of high-quality coal in 2017-2020. 

This year, the group aims to export 2 milliontonnes of coal at Vang Danh and Nam Mau coal mines, as well as sign tradecontracts with many foreign partners.-VNA
VNA
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