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Friday, May 20, 2022

Vietnam to export over 2 million tons of coal this year

The Saigon Times

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HCMC – Vietnam will export over 2 million tons of coal this year, increasing by nearly half a million ton compared to last year, according to the 2022 coal export plan of the Ministry of Industry and Trade.

The Vietnam National Coal and Mineral Industries Holding Corporation Limited (Vinacomin) is allowed to export 2 million tons of coal, while Dong Bac Corporation can export 30,000 tons in 2022.

The Ministry of Industry and Trade noted that coal exports should not affect the coal supply for domestic consumption and production. Besides, coal exports must bring higher profits than domestic sales and ensure economic benefits for businesses and the country.

Last year, Vinacomin sent abroad 1.55 million tons of coal, while Dong Bac Corporation exported 50,000 tons.

Global coal prices have skyrocketed recently due to the escalating military conflict between Russia and Ukraine and Indonesia’s coal export ban.

The thermal coal price in Asia rose to US$446 per ton as of March 3, the highest since 2008.

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