The Vietnam National Coal and Mineral Group (Vinacomin) sold 8.6 million tonnes of coal in the first quarter of 2017, up 3 percent compared to the same period last year.
Quang Ninh (VNA) - The VietnamNational Coal and Mineral Group (Vinacomin) sold 8.6 million tonnes of coal inthe first quarter of 2017, up 3 percent compared to the same period last year.
Of the total, 185,000 million tonnes were shippedoverseas.
Vinacomin released the figures whilereviewing its operation in the first three months at a conference in thenorthern province of Quang Ninh on April 10.
The group reeled in nearly 13 trillion VND(572 million USD) from coal sales and contributed more than 4.3 trillion VND(189.2 million USD) to the State budget.
However, combined coal inventories came to 9.3million tonnes, higher than the regulated amount of 8.5 million tonnes.
Vinacomin Deputy General Director NguyenNgoc Co said the group has faced challenges selling its coal products due to highcost and coal imports from foreign countries.
The business strategy for the next quarterwill prioritise production restructuring with a focus on technology and adjustoutput according to market demand, he noted.
Goals set for the coal sector in the secondquarter included the exploitation of 8 million tonnes and selling of at least 9million tonnes.
At the conference, alumina business wasalso mentioned as a highlight of Vinacomin’s performance in the first quarter, withthe total output of over 312,000 tonnes, which was sold out.-VNA
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Illustrative photo (Source: VNA) 
