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Government issues a Decree on the organization and operation charter of Vinacomin

Government issues a Decree on the organization and operation charter of Vinacomin - 

The Government has just issued a Decree on the organization and operation charter of Vietnam Coal and Mineral Industries Group (Vinacomin).

Vietnam Coal and Mineral Industries Group (TKV in Vietnamese abbreviated name and VINACOMIN in English abbreviated name) is the holding company of Vinacomin subsidiaries, with 100 % of the charter capital owned by the State, organized as a one-member limited liability company in accordance with the Decision No.989/QD-TTg issued by Prime Minister.

The operational objectives of Vinacomin are profitable business, conservation and development of state owned investment capital in Vinacomin.

To develop coal industry, bauxite - alumina – aluminum industry, mineral industry, power industry and other industries in a sustainable manner; to meet coal demand of the economy; to complete tasks assigned by the State.

To maximize operational efficiency of the Group and its subsidiaries.

Vinacomin's main business lines are comprised of survey and exploration, investment, construction, exploitation, transport, sorting and processing, purchase, sale, export, import of products from coal, mine gas, groundwater in mines and other minerals accompanied with coal; survey and exploration, investment, construction, exploitation, transport, sorting and enriching ore, metallurgy, processing, manufacture, purchase, sale, export, import of mineral products; production, purchase, sale, storage, export and import of types of industrial explosives and ammonium nitrate.

The chart capital of Vinacomin shall be increased to VND35 trillion till 2015.

Members’Council of Vinacomin consists of seven members, of which there is a member appointed as the Chairman of the Members’s Council. The term of members shall not exceed 5 years. Chairman and members may be reappointed.

Vinacomin is comprised of 27 affiliates under the holding company, 7 non-profit units, 17 one-member limited liability companies with 100% legal capital owned by the Group, 36 joint-stock companies where the Group holds more than 50% of legal capital or other controlling rights

The Decree takes effect from February 1st, 2014 .

Decree No. 212/2013/ND-CP dated December 19, 2013

VietnamEnergy.vn

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