Regional Coal: Vietnam targets to export 6.5 million tons of coal this year

Vietnam's coal industry plans to export 6.5 million tons of coal this year, one million tons more than that in 2002, out of its targeted total output of 14.6-16.3 million tons, according to the State-run Vietnam Coal Corporation (Vinacoal), Vietnam daily The People reported Tuesday.

Major coal export markets will include Japan, Hungary, Thailand and the Philippines.

The industry also expects to sell 3.3 million tons of coal to the national electricity industry in 2003, 600,000 tons higher than last year.

In the first half of this year Vinacoal is estimated to ship abroad some three million tons of coal, up 7.5% on-year. Export earnings will be VND2.75 trillion ($179 million) out of total revenues of VND4.25 trillion ($277 million), a rise of 19.4% against the same period last year.

The corporation's total sales volume is predicted to surge by 19% on-year to 8.63 million tons in the January-June period. Coal sold to the electricity industry was around two million tons.

Vietnam is estimated to be short of coal after 2010. It will therefore reduce coal exports in the coming years in order to meet domestic demand in the electricity, paper, and transport industries and local households.

It targets to produce 16-17 million tons of coal in 2005, 23-24 million tons in 2010, 26-27 million tons in 2015 and 29-30 million tons in 2020. The export volume is estimated to account for only 35%.

The country is looking for foreign partners to exploit the Khe Cham No 2, 3 and 4 coal mines in northern Quang Ninh province's Cam Pha town.(*)