Top coal miner’s Q1 sales volume rises 6 percent on surging demand

By Toan Dao   April 10, 2016 | 04:53 pm PT
Vietnam’s leading coal producer, Vinacomin, sold about 8.7 million tons of coal to domestic users during January-March, 6 percent higher year on year, thanks to rising demand from power plants.

The company, however, encountered stiff competition from other local supply sources and imported coal from Russia, Australia, Indonesia and China in the first quarter, Vinacomin said April 8.

Vinacomin targets to sell 10 million tons of coal in the second quarter, up 15 percent from the first quarter. In April in particular, the miner plans to produce 3.8 million tons of coal and sell 3.1 million mt.

Vietnam imported an all-time record high of 6.96 million tons of coal in 2015, rising 124.8 percent from 2014. The major suppliers last year included: Indonesia (1.948 million tons, up 24.3 percent year on year), China (1.744 million tons, jumping 267.8 percent year on year), and Australia (1.441 million tons, surging 165.3 percent on year), according to Vietnam Customs data.

In addition to coal, Vinacomin expects to produce 65,000 tons of alumina, 4,000 tons of copper ore and 15,000 tons of iron ore in April.

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