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Vinacomin revenue at $735.545 million for first two months

Released at: 09:46, 03/03/2015

Vinacomin revenue at $735.545 million for first two months

Mining giant performs in line with plans over first two months.

by Son Ho

The Vietnam National Coal - Mineral Industries Group (Vinacomin)'s revenue for the first two months of the year is estimated at VND15.7 trillion ($735.545 million), of which revenue from coal was VND6.973 trillion ($326.685 million).

The Group's other manufacturing and business fields besides coal have also been progressing handsomely according to the plan. It has produced 7,380 tons of copper ore, 28,000 tons of iron ore, 1,400 tonnes of copper plate, and 63,400 tons of aluminum, as well as producing and consuming 1,323 billion kilowatts of electricity. The field of production engineering and industrial explosives also achieved their monthly plans.

Vinacomin and its unit members continue to implement the key investment projects, in particular 23 mining projects, mechanization projects, maintenance projects and production development projects, to ensure sound progress and quality output.

The corporation has set a target of VND114 trillion ($5.34 billion) in total revenue, VND1.5 trillion ($70.245 million) in profit, and 38 million tonnes of coal consumption. Expected average salaries are VND8.7 million ($407.42) per month, while in the coal production sector salaries are expected at VND9.2 million ($430.84) per person per month.

Vinacomin will focus on stabilizing production, promoting domestic coal consumption, enhancing cost management, improving quality and efficiency in its business fields, investing in technological innovation in 2015 to ensure project progress, and bolstering management efficiency.

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