Coal industry accelerates production until the end of the year

According to the yearly plan, Vinacomin will produce 8.5 million tonnes of coal in the fourth quarter 2023 to complete the whole year's production target of 37.2 million tonnes. It would also import 3.6 million tonnes of coal and sell 11.5 million tonnes of its coal to reach 48 million tonnes of consumed coal this year.

Vinacomin general director Dang Thanh Hai said in 2024, the coal output that Vinacomin supplies to electricity producers is estimated to reach 44-45 million tonnes, while the output of raw coal has not increased due to limitations in mining volume set by exploitation licences.

Therefore, Vinacomin will increase coal imports in the fourth quarter of 2023 by 700,000 tonnes to ensure the group's coal reserve level of at least 6 million tonnes, as well as meet the coal demand of thermal power plants from the beginning of 2024.

The group also continues to report to ministries and branches on problems in performing production and business activities, including exploitation licence, compensation for site clearance of Nam Cau Trang Factory, and business cooperation contract with Vietmindo.

Vinacomin chairman Ngo Hoang Ngan has also required member companies to be proactive in removing difficulties, reviewing plan targets, and completing production and business plans. They need to promote investment in production development and key projects.

In the fourth quarter of 2023, member companies will boost production, increase output, meet coal needs for the economy and contribute to the economic growth of Quảng Ninh province and the country.

Regarding Vinacomin's production and business in the first nine months of 2023, Vinacomin general director Dang Thanh Hai said the group made many efforts and basically completed the assigned plans and tasks. In particular, some member companies achieved high output and revenue, and workers' income increased over the same period.

According to Vinacomin's report, in September, the group produced 2.75 million tonnes of coal, imported 560,000 tonnes and consumed 3.5 million tonnes.

At the same time, the group produced 120,000 tonnes of alumina and sold 137,100 tonnes. Besides that, it also produced 5,500 tonnes of copper; and produced and sold 616 million kWh of electricity.

The group's September revenue reached 13.69 trillion VND, including 8.7 trillion VND from coal.

During the first nine months this year, Vinacomin achieved a total coal mining output of 28.68 million tonnes, reaching 73% of the year plan, equal to 94% compared to the same period in 2022.

At the same time, the group sold 36.09 million tonnes of coal, a slight increase of 1% year on year. Of which, the domestic consumption was 35.66 million tonnes, including 30.02 million tonnes for the electricity industry; 1.62 million tonnes for the fertiliser and alumina industries; 831,000 tonnes for the cement industry; and 3.2 million tonnes for other sectors.

The group's total revenue in nine months was estimated at 127 trillion VND, unchanged against the same period in 2022, including 79.4 trillion VND from coal revenue, a slight reduction of 2% against the same period.

The group has paid about 23.44 trillion VND for the State budget, an increase of 42% over the same period.

Source: Vietnamplus