Mineral group’s coal revenue up 48% in first two months05/03/2023
The Vietnam Coal and Mineral Industries Group (TKV) earned VND25.2 trillion ($1.06 billion) in revenue in the first two months of this year, up 27.8% over the same period last year.
Of the total revenue, its earning from coal reached VND16.33 trillion, 17.3% of this year’s plan and up 48% over the same period of last year.
During the months, the group produced 5.71 million tonnes of coal, reaching 14.6% of the planned volume this year and equaling 89.6% of the same period in 2022.
It sold 7.27 million tonnes, accounting for 15.6% of the planned volume and equaling 109.4% over the same period in 2022. The group imported 1.24 million tonnes, equal to 13.5% of the planned volume for the whole year.
By the end of last month, the total coal inventory is estimated at about 5.2 million tonnes.
The group also announced that its workers have an average monthly salary of VND15.7 million and that it has paid VND7.47 trillion to the state budget, equaling 36.6% of this year’s plan.
According to the TKV, coal demand for power generation in February 2023 remained high. Some thermal power plants asked for more coal than the volume in the contracts for the first half of this year.
Regarding coal for chemical fertilizer production, the group provided 160,000 tonnes to fertilizer and aluminum producers, making up 75% of the monthly operating plan and 110% of the same period last year.
In addition, coal for cement producers reached about 120,000 tonnes or 91% of the monthly operating plan and equal to 96% of that in the same period last year.
Mining Vietnam eMarket
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