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TKV sets target of $5.49b for next year

Update: December, 26/2018 - 18:00
Vinacomin will focus on manufacturing high quality coal to service traditional markets including Japan and South Korea. — VNA/VNS Photo Trọng Đạt
Viet Nam News

HÀ NỘI — Việt Nam National Coal and Minerals Group (Vinacomin or TKV) plans to earn VNĐ128 trillion (US$5.49 billion) in 2019, of which nearly VNĐ69 trillion will come from coal production.

The information was announced at a conference on implementing business plans for 2019 held in the northern province of Quảng Ninh on Wednesday.

The group will focus on implementing underground mining investment projects. It will exploit about 40 million tonnes of raw coal and import about 4.6 million tonnes next year, while consuming about 42 million tonnes.

The amount of clean coal inventories by the end of next year is expected to be four million tonnes.

In order to achieve the above objectives, Vinacomin will continue to improve the management of coal consumption, specialising in areas of transportation, storage, ports, delivery and trading.

Vinacomin will strengthen management on natural resources, product quality, safety and environment. It will conduct concrete measures to protect coal from mining, transportation, storage to consumption, especially preventing trade frauds on quality and volume as well as theft of coal.

In terms of exports, Vinacomin will focus on manufacturing high quality coal to service traditional markets including Japan and South Korea. It has set a target to raise workers’ average salary to VNĐ11.3 million per month per head, up 4.7 per cent compared with this year.

On the same day, Vinacomin signed 2019 mining contracts with its member companies. — VNS

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