Vinacomin adjusts to reduce the output of some types of coal

Vinacomin adjusts to reduce the output of some types of coal - 

As the consumption of coal on the market is still stagnant, Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has directed to review production situation of a number of its member units with coal products that the market does not need to reduce the output. During the reduction of production, the units will implement removing soil or digging pits to be ready to exploit coal in more favorable conditions of consumption.  

This could be considered a flexible operating solution under market mechanism of Vinacomin leadership. This solution is applied in difficult condition of coal sale and it would be changed for stable production of the member units when the coal market returns to normal situation.

Vinacomin informed that, in the last months of the year the group will produce coal according to the monthly market demand, and strive to reduce coal stock at least by 500,000 tons to reach the coal stock at a reasonable level at the end of 2017 and less than 6 million tons in 2018.

At the same time, the group will also study the rational production alternative with a guarantee of planed profit targets.

According to the plan approved by the Vinacomin Member Council, in 2018 the group will sell 36 million tons of coal types, of which newly production is 36, 35 or 34 million tons dependently to market demand in order to reach a stock level as 5-6 million tons.

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