Vinacomin decreased more than 1 millions tons of coal in stock in the first quarter, 2014

Vinacomin decreased more than 1 millions tons of coal in stock in the first quarter, 2014 - 

On April 17, at the frequent meeting of the first quarter, 2014, Vinacomin Deputy Diputy General Nguyen Van Bien said, the leaders of Vinacomin took all the drastic measures to improve the quality of the coal, including coal in stock and the crude one as well. Thereby, the corporation has decreased more than one million tons of the coal in stock coal, this quarter.

The report shows that, in the firs quarter 2014 Vinacomin produced 9.7 mln tons of coal, reached 25.6% of year plan, but it is estimated only 91.7% in comparison with that in the same period of 2013, due to the seperation of Dong Bac Corporation to the Ministry of National Defence. Coal consumption was about 9.35 mln tons, including 2.5 mln tons for export and 6.8 mln tons for domestic demad. To the end of the first quarter, the total amount in stock was 7.6 mln tons, including 5.5 mln tons of the clean coal and 2.1 mln tons of the crude and semi – products.

The total turnover of the Corporation was estimated VND 26,000 billions, gained 25 percent of the plan, among which more than 13 billions from coal business and 3,200 billions from power trade. The profit of the first quarter reached 550 billions compared with 2,000 billions of the year plan.

In the first quarter, Vinacomin ensured employments for 126,000 persons with an average income of 7.7 mln/person/month. However, the total investment capital of the Corporation reached only 2,455 billions, equal to 10.1% of year plan and 83% compared with that in the same period of 2013. The mining and basic construction work reached only 7,614 m, equal 23.1% of the year plan.

In this quarter, the Corporation mobilized 3,000 billions of short-term capital and US$45 millions for coal payment and Bauxite, Amon, Nitrats projects…Besides, mobilizing 1,000 billions of midium-term capital and signs a loan contract of US$300 millions with SMBS for Nhan Co Bauxite Alumin project.

At the very beginning of the year, based on actual situation of the market, the leaders of the Corporation steered all the subsidiaries to speed up selling and withdrawing products, promote quality of products and economize costs, settle production and maintain income of the labours on the base of the balance of production and business effects.

“Especially, in this year, due to the market demand on the higher quality of the coal, the Corporation took a strict management in order to enhance coal quality including stocked coal and crude coal. So that, the stocked coal hase decreased more than 1 ton in the first quarter” said Mr. Bien.

Regarding the tasks in the second quarter and next quarters, the Corporation will focus to steer the coal production and sale in order to reach 50-52% of the plan target of the first six months. Particularly, in the second quarter, the coal sale is estimated about 9 -10 mln tons, of which 1.5-2 mln tons for export and 7.5-8 mln tons for domestic consumption .

In order to reach the mentioned above targets, at present, the Corporation is steering to strengthen checking and controlling for preventing coal losses in exploitation, processing, transportation and sale processes, to set up the close control at the entering and exiting stations to the mines, on the roads specially made for coal transportation to the ports, to reiforce the coal storage warehouses, to have the options for reasonable protection and management, to apply scicence and technology for controlling coal flow. At the same time, Vinacomin also strengthens the close coordination with the local authorities for the successful management of mine’s border lines.

Mr. Bien also said that, with a salary of 10 mil (around US$500) a senior Vietnamese mining worker suffers a more loss than one in Chine and Australia, who gets a salary of US$1000-2000. That is till not including the harmful and dangerous level that they have to face, when working in underground conditions in Vietnam. In order to improve the situation, the Corporation will increase a 5 percent of the salary for this kind of workers this year.

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