Coal and mineral industry fetches VND70,000 billion in 2010 revenue

The Vietnam National Coal Mineral Industries Group (VINACOMIN) earned nearly VND70,000 billion in 2010 revenue, 11 percent more than in 2009, in which coal exports reached VND21,000 billion, up by 21 percent over 2009.

On January 8, VINACOMIN organised a conference to review business and production activities in 2010 and worked out the 2011 plan.

Despite facing a lot of difficulties due to the impact of the global economic crisis, VINACOMIN still perform well, carrying out its business plans. As a result, in 2011, VINACOMIN contributed more than VND8,000 billion to the State budget, 25 percent more than in 2009 while its mineral exploration hit VND2,500 billion, up by 31 percent; electricity production reached VND2,300 billion, up by 131 percent over 2009.

Asides from this, the group restructured its enterprises and production management while implementing key projects on mining, thermal-electric power and exploring new coal mines.

Last year, VINANCOMIN ensured job provision and stable incomes for more than 1.3 million workers with a monthly average salary of VND6 million each, 5 percent more than the level of the year before.

In 2011, the group will continue to implement measures to gain more than VND72,000 billion in revenue, apply advanced technology to increase production efficiency and reduce workplace accidents.

The group will also ensure social welfare for workers as well as adopt measures for sustainable environmental protection in its exploration process. – VOV

Tags: Vietnam coal mining