Vinacomin Targets to Produce and Consume 10 Mln Tonnes of Coal in Q2

In the first quarter of this year, despite unfavourable weather, members of Vinacomin managed to maintain their production, ensured jobs and income for their employees. Averagely, Vinacomin completed 25 percent of its year plan. In detail, Vinacomin produced 9.7 million tonnes of coal, reaching 25.6 percent of year plan, but only 91.7 percent in comparison with the same period of 2013, due to the separation of Dong Bac Corporation from the Ministry of National Defence. Coal consumption was about 9.35 million tonnes, including 2.5 million tonnes for export and 6.8 million tonnes for domestic demand.

 

The total turnover of the Corporation was estimated VND26,000 billion, gained 25 percent of the plan, among which more than VND13 billion from coal business and VND3,200 billion from power trade. The profit of the first quarter reached VND550 billion compared with VND2,000 billion of the year plan.

 

Mr Nguyen Van Bien, Vice General Director of Vinacomin said, in the first quarter, Vinacomin ensured employments for 126,000 persons with an average income of VND7.7 million /person/month. However, the total investment capital of the Corporation reached only VND2,455 billion, equal to 10.1 percent of year plan and 83 percent compared with that in the same period of 2013. The mining and basic construction work reached only 7,614 metres, equal 23.1 percent of the year plan.

 

In the first quarter, the Corporation mobilized VND3,000 billion of short-term capital and US$45 million for coal payment and Bauxite, Amon, Nitrats projects. Besides, mobilizing VND1,000 billion of medium-term capital and signs a loan contract of US$300 million with SMBS for Nhan Co Bauxite Alumni project, Mr Nguyen Van Bien said.

 

At the very beginning of the year, based on actual situation of the market, the leaders of the Corporation steered all the subsidiaries to speed up selling and withdrawing products, promote quality of products and economize costs, settle production and maintain income of the employees on the base of the balance of production and business effects.

 

In order to reach the mentioned above targets, at present, the Corporation is steering to strengthen checking and controlling for preventing coal losses in exploitation, processing, transportation and sale processes, to set up the close control at the entering and exiting stations to the mines, on roads specially made for coal transportation to the ports, to reinforce the coal storage warehouses, to have the options for reasonable protection and management, to apply science and technology for controlling coal flow. At the same time, Vinacomin also strengthens close coordination with the local authorities for the successful management of mine’s borders.

 

Mr Bien also said that, with a salary of VND10 million (around US$500), a senior Vietnamese mining worker suffers more loss than one in China or Australia, who gets a salary of US$1000-2000. That is not including the potential physical harm and danger that they have to face when working underground in Vietnam. In order to improve the situation, the Corporation will increase salaries by 5 percent for this kind of worker this year.