Vinacomin produces over 20 mln tonnes of raw coal from year’s start

Quang Ninh (VNA) – 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.

It has sold nearly 22 million tonnes of coal, up 3.8 million tonnes from the same period last year.

The group generated about 66 trillion VND in revenue during the period and estimated to have 6.53 million tonnes of coal in inventory, a decrease of 2.47 million tonnes from the year’s start. The firm’s production of alumina stood at 654,000 tonnes.

The positive result was attributed to Vinacomin’s good market research which allowed the group to sell its products at the right time when the prices went up.

The local demand for coal for production of electricity, cement, fertiliser and others is forecast to remain high in the time ahead so Vinacomin will manage to balance the coal production and sales to reduce inventory and meet the demand at the same time.

This year, Vinacomin sets to sell from 38.5 – 39 tonnes of coal, including 34.2 million tonnes of clean coal, up 1.32 million tonnes year on year.-VNA