Vinacomin gets “sweet fruits” in all fields

	Driving away the challenges in coal thermal power development
	Vietnam’s coal imports grow despite large reserves
	Exporting crude oil and coal are going to decline significantly

In 2019, Vinacomin will promote the application of science and technology in all fields of production and business. Source: Internet

Coal, electricity and minerals all prospered

According to Vinacomin’s announcement at the summarizing conference in 2018 and deploying the tasks in 2019 on January 9, in Hanoi: In 2018, the Group's revenue reached 121.7 trillion VND, equal to 107% of the plan and up 13% compared to 2017.

Total export turnover reached $US 780 million, an increase of 36% compared to the plan. The Group's profit was over 4 trillion VND, up 2 trillion VND compared to the plan and up 1 trillion VND compared to 2017. Vinacomin paid 16 trillion VND to the state budget, up 1.2 trillion VND compared to 2017. Total assets in 2018 were 130 trillion VND. The Group and its member companies have preserved and developed business capital.

Mr. Dang Thanh Hai - General Director of Vinacomin assessed: Impressive figures on revenue, profit and state budget payment... showed the prosperity in the production and business activities of the Group and its units in all manufacturing fields.

Specifically, in the field of coal production: According to the plan for the beginning of the year, the Group will produce 35.36 million tons of raw coal, and consumption coal 36 million tons. However, under the market movements as the domestic coal consumption demand increased, the Group adjusted production growth scenario - coal consumption in 2018 to 38 million tons. At the end of the year, production of raw coal production reached 36.95 million tons, reaching 104% of the plan, equal to 105% compared to 2017. Consumption coal is estimated at 40.5 million tons, increasing by 4 million tons compared to the plan and 5 million compared to 2017 implementation.

Minerals of TKV in 2018 also achieved important imprints with a total revenue of 18.25 trillion VND, up 44% compared to the previous year, of which the revenue from alumina products increased by 67%. “In particular, alumina production continues to affirm as a new spearhead in the Group's product structure. In 2018, production of alumina (converted) production and consumption is 1.31 million tons, an increase of over 170 thousand tons compared to the implementation in 2017. The value of alumina exports reached $US 520 million,” Hai said.

In the field of electricity production, in the past year, electricity output was estimated at 9.4 billion kWh, equal to 100% of the yearly plan. Many units reached the target before the plan such as: Dong Trieu Thermal Power Plant, Cao Ngan Thermal Power Plant... Electricity production revenue of the Group reached 12.51 trillion VND, equal to 102.3% of the plan, up 2.5% compared to the same period in 2017.

Mr. Hai added: The fields of manufacturing and trading industrial explosives, mechanical and construction materials also achieved many positive results, ensuring the plan in terms of output, quality and revenue...

Strive for 3,000 billion VND profit

On the momentum of 2018, Vinacomin set targets for 2019: The output of raw coal production is to reach 40 million tons, coal consumption to reach 42 million tons. In addition, the mineral industry, producing and trading electricity, explosives, and mechanics are to strive for stable growth, exceeding the target compared to 2018.

Revenue of the Group strives to reach 128 trillion VND, of which the coal sector alone is 68 trillion VND. In terms of profit, Vinacomin strives to reach about 3 trillion VND. The average salary of employees strives to reach 11.3 million VND/person/month.

Mr. Hai said: This will be a big challenge for the employees of the Group because in 2019, TKV will face many difficulties due to the conditions of coal production getting deeper, cost production increased; production capacity and employment conditions are limited. In addition, the Group is also under pressure in the consumer market with product competition.

Mr. Hai also emphasized: "The increase in coal production to meet the needs of the economy, especially for electricity production, is an urgent requirement as the current projects of the Group have been operating at maximum level. Also, new mining projects are slow to implement and there are problems in solving administrative procedures of ministries in previous years, coal reserves are at the lowest level over the years".

In 2019, Vinacomin will continue to promote the introduction of science and technology in all fields of production and business (from exploitation, screening, processing); consider science and technology as the key factor to increasing labor productivity.

Seizing 800 tons of coal mine tailings without legal documents

In particular, Vinacomin promoted the application of synchronous mechanization in pit mining; focus on implementing research on light mechanization, to increase labor productivity, improve working conditions and reduce the safety risks. The Group will also continue to invest in completing coal screening and processing systems at mines and screening plants to improve quality to meet the market demand, increase coal recovery coefficients, reduce costs of transportation and waste rock.

“In addition, Vinacomin will also continue to invest in key projects: Khe Cham II-IV Underground Project; Nui Beo Underground Project; the project for mining the underground part below -150 - Mao Khe Coal Company, pit mining project of Suoi Lai mine (phase I), open-pit mining project in Bac Bang Danh area…,” Mr. Hai said.