Coal mining enterprises are bullish about their business operations on high coal demand, after positive results in the first quarter of 2022 with many exceeding targets.
Vietnam hopes to establish long-term stable trade and investment ties with Australia and receive technology in sustainable coal mining and processing from Australia, said Minister of Industry and Trade Nguyen Hong Dien.
Thailand's biggest coal mining company Banpu has invested 430 million USD to acquire a 100 percent stake in a large-scale gas-fired power plant in the US, hurrying to move away from its main business, which has a large environmental impact, to a green business.
As mining activities are seasonal and affected by the weather, revenue and profit of coal mining businesses have fluctuated continuously over the past 10 years.
The Cambodian Ministry of Mines and Energy is set to review applications soon for rights to four coal mining concession areas it opened late in March in the northern region of the country, the Phnom Penh Post reported.
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has set the goal of earning a total revenue of 128 trillion VND (5.5 billion USD) in 2019, nearly 69 trillion VND of which will be from coal production.
Geological and mining experts recently debated the feasibility and economic and social impacts of the exploitation of the Red River Delta coal basin, which has estimated reserves a hundred billion tonnes of coal.
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced over 20 million tonnes of raw coal and 19.3 million of clean coal from the beginning of 2018.
Director of the Vietnam Institute of Economics Tran Dinh Thien has called for taking new approach to energy strategy, with saving energy in production and consumption as compulsory.
The ownership of 21 large State-owned groups and corporations is likely to be transferred from ministries and sectors to the Committee on State capital management at enterprises.
The index of industrial production (IIP) in January surged 20.9 percent against the same month last year, partly due to the long Lunar New Year holiday falling in February this year.
Listed coal producers recorded profits during the 2nd quarter and first half of 2017, but the second half of the year may not be so promising due to large stockpiles, adverse weather and barriers.
National Assembly Chairwoman Nguyen Thi Kim Ngan has urged the coal-mining sector to uphold its tradition of solidarity and discipline to retain its role as a pillar of national energy security.
Vietnam will develop a technologically-advanced coal mining industry with high competitiveness moving towards sustainability in the next five years to contribute to ensuring energy security.
The rescue team has yet to estimate how long it’s going to take them to access a trapped worker after a recent coal mining accident in northern Quang Ninh province.
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