Vinacomin to export three million tonnes of coal in Q4
The Vietnam Coal and Mineral Industries Group (Vinacomin) plans to sell 11 million tonnes of coal in the last three months of this year, including 3-3.5 million tonnes for export.
Vinacomin Deputy Director General Nguyen Van Bien announced the goal at a press conference in Hanoi on October 21, recapping the corporation’s trading and production in the first nine months of the year and its business plan in the fourth quarter.
He noted that demand for coal serving domestic thermoelectricity power plants is expected to surge in the dry season, while coal-export tax has been reduced to 10% from 13% in the first half of the year, thus facilitating exports.
The group’s coal sale in the third quarter only fulfilled 15.6% of the entire year’s target, down 40% from the previous months due to a reduction in domestic coal consumption and dropping export price.
In the January-September period, Vinacomin earned VND39 trillion (US$1.83 billion) in turnover and made a VND1.5 trillion (US$70.5 million) profit.
This year, the group strives to sell more than 39 million tonnes of coal, equivalent to last year’s aggregate figure, including 11.5 million tonnes for export, a year-on-year decrease of three million tonnes.