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Vinacomin's coal output during January-May reached 16.87 million tons |
The group said that its coal output during January-May reached 16.87 million tons while 17.6 million tons were sold, or 47.7 percent and 48.9 percent of the set yearly target. Of the total sales, 16.87 million tons were consumed domestically and 727,000 tons were exported.
In the period, the group’s revenue was estimated at 52.5 trillion VND (2.28 billion USD), accounting for 46.1 percent of the yearly plan and up 23 percent on a yearly basis.
Coal inventories of the sector were around 7.35 million tons, down 1.66 million tons from the beginning of the year.
In June, Vinacomin aims to produce 3.4 million tons of coal and sell 4 million tons, of which 3.77 tons will be sold to domestic customers and 230,000 tons exported, thus reducing the coal inventories to under 7 million tons.
The group has revised its coal sale target from 36 million tons to 38 million tons in 2018.
Global high coal prices are creating favourable conditions for Vietnam’s coal export, according to Vinacomin. From mid-May, coal price has increased to more than 100 USD per ton.
As part of efforts to realised the goal, Vinacomin has asked its units to balance production and demands to reduce inventories, while making rational investment and streamlining the apparatus in accordance with their restructuring project.
Vinacomin’s members have focused on coal that is in high demand and processed high-quality coal. High productivity was recorded in Deo Nai coal company, Coc Sau company, Duong Huy company, and Tay Nam Da Mai company.
Besides coal, the group aims to produce 112,000 tons of alumina and 850 million kWh of electricity in June, bringing the total production in the six-month period to 660,000 tons and 5.1 billion kWh, accounting for 54 percent and 55 percent of the set target for the whole year, respectively.
Source: VNA