It is reported that the Viet Nam National Coal and Mineral Industries Group is to increase production for domestic use this year and invest in exploration to meet long-term development.

The targets the corporation said it had set for this year included selling 45.5 million tonnes of coal an increase of 1 million against last year, of which domestic consumption would account for 31 million tonnes to 32 million tonnes and exports would be 13.5 million tonnes to 14.5 million tonnes.

The corporation said that would reduce coal exports by 3.3 million tonnes to meet domestic demand. Estimates indicated that domestic demand for coal would reach 32 million tonnes this year up 4.2 million tonnes in comparison with last year.

Mr Le Duy Chuan Vinacomin general director said coal exports would be reduced gradually in order to ensure national energy security. Total coal exports by 2015 were estimated to fall to around 8 million tonnes.

Vinacomin planned to increase the volume of run-of-mine coal to 48.9 million tonnes this year a 2.4% rise over last year. It will invest around VND 600 billion beginning this year to boost the capacity of existing mines and open new mines in order to reach 65 million tonnes of coal products by 2015.

The corporation was expected to reap VND 96.3 trillion in total revenue this year, a modest increase over last year VND 94 trillion. In addition to the exploration plan for North Eastern Quang Ninh Province coal fields and other important minerals such as copper serving sustainable development, the corporation saw new technologies as a key to enhancing productivity and promoting its growth.

With the aim of continuing to curb inflation and stabilise the economy, Deputy Prime Minister Hoang Trung Hai asked Vinacomin to increase investment from outside and allocate capital for exploration to evaluate coal reserves in Quang Ninh Province as well as the Song Hong Delta.

(Sourced from vietnamnews.vnagency.com.vn)