The Vietnam National Coal and Mineral Industries Corporation(Vinacomin)'s turnover was 26 trillion VND (1.23 billion USD) in thefirst quarter of this year, while its profit was 550 billion VND (26.1million USD).
Nguyen Van Bien, Vinaconmin's deputy generaldirector, announced at a recent press meeting in Hanoi that of the totalrevenue, turnover from coal mining was 13.3 trillion VND (633 millionUSD), from electricity production 3.2 trillion VND (152 million USD),and from mineral production 1.52 trillion VND (73 million USD).
Theslow recovery of the world economy has resulted in decreasing coalconsumption and sale prices, Bien said, adding that the group, however,would strive to meet financial balance and State budget collection whileensuring employees' welfare.
Figures from Vinacomin showed thatcoal output in the three-month period was 9.7 million tonnes, areduction of 8 percent compared with the same period last year and anachievement of only 26 percent of the year's target.
Coalconsumption was estimated at 9.35 million tonnes, including 2.5 milliontonnes for export and 6.8 million tonnes for domestic purposes,accounting for three-fourths of the total because of low export prices.The company had targeted to export 8 million tonnes of coal this yearout of a total of 35 million tonnes.
The coal inventory at the end of the quarter was 7.6 million tonnes.
Aluminaoutput in the period was 113,000 tonnes, while several minerals had anincrease in output year-on-year of 104–142 percent. Electricityproduction and consumption reached 2,600 million kWh, representing afive percent increase compared with the same period last year.
The group ensured jobs for 126,000 labourers with an average income of 7.7 million VND each per month.
However,Vinacomin's investment in the first quarter was low at 2.45 trillionVND (116 million USD), showing a 17 percent year-on-year decrease.
Biensaid Vinacomin has taken drastic measures to implement the restructureplan approved by Prime Minister Nguyen Tan Dung to focus on corebusinesses.
The group has dissolved so far this year nineone-member limited companies involved in coal production to merge themwith its branches to stabilise their operations.
It alsoequitised two out of eight approved units and will move the remainingsix units to joint stock firms from the beginning of next year.
It has targeted to complete the equitisation of all the eight units this year.
Vinacominhas also reduced its capital ownership in non-core businesses to lessthan 36 percent and has divested from non-core businesses such asbanking, financial investment, and infrastructure.
The totalinvestment in non-core businesses was 500 billion VND (23 million USD)in five units including SHB Bank, SHS Securities Company, Sai Gon-HanoiFund Management Company, and Hai Ha Industrial Zone in northeasternQuang Ninh province.
He claimed the group has been waiting forfavourable opportunities to divest all capital from SHB and SHS andensure the availability of capital after the withdrawal.
Vinacominhas targeted to meet 50–52 percent of the whole year's plans in thefirst half of the year. Coal consumption will be 9–10 million tonnes:1.5–2 million tonnes for exports and 7.5–8 million tonnes for domesticconsumption.-VNA
Nguyen Van Bien, Vinaconmin's deputy generaldirector, announced at a recent press meeting in Hanoi that of the totalrevenue, turnover from coal mining was 13.3 trillion VND (633 millionUSD), from electricity production 3.2 trillion VND (152 million USD),and from mineral production 1.52 trillion VND (73 million USD).
Theslow recovery of the world economy has resulted in decreasing coalconsumption and sale prices, Bien said, adding that the group, however,would strive to meet financial balance and State budget collection whileensuring employees' welfare.
Figures from Vinacomin showed thatcoal output in the three-month period was 9.7 million tonnes, areduction of 8 percent compared with the same period last year and anachievement of only 26 percent of the year's target.
Coalconsumption was estimated at 9.35 million tonnes, including 2.5 milliontonnes for export and 6.8 million tonnes for domestic purposes,accounting for three-fourths of the total because of low export prices.The company had targeted to export 8 million tonnes of coal this yearout of a total of 35 million tonnes.
The coal inventory at the end of the quarter was 7.6 million tonnes.
Aluminaoutput in the period was 113,000 tonnes, while several minerals had anincrease in output year-on-year of 104–142 percent. Electricityproduction and consumption reached 2,600 million kWh, representing afive percent increase compared with the same period last year.
The group ensured jobs for 126,000 labourers with an average income of 7.7 million VND each per month.
However,Vinacomin's investment in the first quarter was low at 2.45 trillionVND (116 million USD), showing a 17 percent year-on-year decrease.
Biensaid Vinacomin has taken drastic measures to implement the restructureplan approved by Prime Minister Nguyen Tan Dung to focus on corebusinesses.
The group has dissolved so far this year nineone-member limited companies involved in coal production to merge themwith its branches to stabilise their operations.
It alsoequitised two out of eight approved units and will move the remainingsix units to joint stock firms from the beginning of next year.
It has targeted to complete the equitisation of all the eight units this year.
Vinacominhas also reduced its capital ownership in non-core businesses to lessthan 36 percent and has divested from non-core businesses such asbanking, financial investment, and infrastructure.
The totalinvestment in non-core businesses was 500 billion VND (23 million USD)in five units including SHB Bank, SHS Securities Company, Sai Gon-HanoiFund Management Company, and Hai Ha Industrial Zone in northeasternQuang Ninh province.
He claimed the group has been waiting forfavourable opportunities to divest all capital from SHB and SHS andensure the availability of capital after the withdrawal.
Vinacominhas targeted to meet 50–52 percent of the whole year's plans in thefirst half of the year. Coal consumption will be 9–10 million tonnes:1.5–2 million tonnes for exports and 7.5–8 million tonnes for domesticconsumption.-VNA
