Coal sector aims to surpass yearly target

13:25 | 05/08/2017 Energy

The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) strives to sell over 36 million tonnes of coal in 2017, an increase of one million tonnes compared to 2016.

Photo: dantri.com.vn

Of which, domestic coal consumption will be more than 34 million tonnes while the remaining 2 million tonnes are for export.

The group has signed trade contracts in 2017 with both domestic and foreign customers, as well as insurance and transportation agreements. It has also exchanged long-term coal export contracts with Japanese partners.

Minister of Industry and Trade Tran Tuan Anh said the ministry has proposed the Government remove difficulties for the coal industry, particularly issues relating to production costs and environmental fees, in order to make domestic coal prices more competitive in the market.

The ministry has created the best conditions for coal exports but some difficulties still lie ahead due to technical barriers from China, he said, adding that there would be a lot of changes in mechanisms and policies benefiting the coal sector, including the reduction of coal inventories.

In late 2016, the Government officially allowed Vinacomin to increase the export of high-quality coal in 2017-2020.

This year, the group aims to export 2 million tonnes of coal at Vang Danh and Nam Mau coal mines, as well as sign trade contracts with many foreign partners.

Theo VNA