The Vietnam National Coal – Mineral Industries Holding Corporation Limited (Vinacomin) was established on October 10, 1994, under Decision 563/0DD- TTg by the Prime Minister. Implementing an important task assigned by the State, right from the time of coming into being, Vinacomin set up a plan for “innovation of structure and management in order to improve operational efficiency”, choosing the strategy of “developing diversified businesses based on coal operation” and the policy of “growing with customers and partners”.
With the set strategic goal, Vinacomin made substantial changes in management mechanism, in product sales and operation organisation model, in financial and economic measures, actively investing in innovation of coal mining technology, in refurbishment of technological line for coal extraction, preparation and loading terminals.
Based on coal business, Vinacomin employs available human resources from coal operation for developing other businesses such as mining machinery with modernisation of repairing shops, stimulation of manufacturing, assembling and producing dump trucks, building ships; construction of power plants; investing in improvement of mineral output; production of industrial explosive materials, cement, building materials, attention is paid to scientific research work, application of new technologies, protection of environment; trading and services are also developed.
During the last 19 years of development, the staff and workers of Vinacomin have made unceasing efforts, shown initiative and creative spirit, reconfirmed their strength with solidarity, determination to overcome difficulties, striving forward, accomplishing the planned targets with ever better achievements.
In 2012, Vinacomin’s revenue grossed VND95.5 trillion (US$4.2 billion), including US$1.1 billion of coal export. The profit reached VND2.8 trillion.
The coal industry not only satisfies the demand of the national economy, but also provides an important product for export, off-setting losses in the domestic market and performing accumulation. It has conserved and increased the business capital, gradually stabilized then improved the miners’ working and living conditions.
The dignity and vitality of the miners during the historical course of formulation and development are the spirit of “Discipline and Unanimity”, the tradition being preserved and promoted by generation after generation of miners, making glorious achievements, building Vinacomin a strong, fast-growing and effective one with ever rising position.
The staff and workers of Vinacomin always deserve its heroic history evidenced by the noble award of “Golden Star” medal and the holy title of “Hero of Labour” in the innovation era
Vinacomin has investment, improvement, and expansion of coal mines to increase the capacity by approximately 15 million MT; new investment in coal washing plants with total capacity of over 10 million MT.
Tan Rai Bauxite -Aluminum Complex (Lam Dong) is under development with capacity of 600,000 MT of alumina per year, total investment capital of US$493 million; Nhan Co (Dak Nong) alumina refinery is being constructed with capacity of 300,000 MT alumina per year and total investment capital of about US$250 million. Projects are under preparation for advancing to establishment of some companies for mining bauxite and refining alumina in Dak Nong province, with capacity of the first stage being 1.9 million MT alumina per annum, and total investment capital of approximately US$1,600 million.
Constructing and commissioning the coal-fired thermal power plants: Cam Pha (2 x 340 MW); Son Dong 220MW; Nong Son 30MW; Mao Khe 440 MW; cooperating with AES Corporation of the United States to build Mong Duong thermal power plant No.2 of 1,200 MW; holding shares in Hai Phong and Quang Ninh Thermal Power Joint Stock Companies. At present, Na Duong and Cao Ngan thermal power plants 110MW each are in commercial operation.
Vinacomin is putting into operation Thai Nguyen Zinc Plant of 10,000 MT/year, Lao Cai Copper Refinery of 10,000 MT/year; planning to develop the projects of Thanh Hoa chromites, Cao Bang and Lao Cai steel billet plants; and contributing capital to establishment of Thach Khe iron ore mining joint-stock company.
Vinacomin has built a floating glass plant at Chu Lai Open Economic Zone in Quang Nam province with capacity of 700 tonnes of liquid glass per day; Quan Trieu (Thai Nguyen) Cement Plant of 600,000 tonnes per year; expansion of La Hien (Thai Nguyen) Cement Plant with 600,000 tonnes per year. Bauxite exploration projects in the Central Highlands, Sin Quyen (Lao Cai) copper project; Titanium Oxide Joint-venture Company in Binh Thuan with capacity of 5,000 tons of TiO2 per year.
Besides, Vinacomin and its subsidiaries are prepared to apply to the Vietnamese and foreign competent authorities for permissions for exploring, mining coal and metallic minerals in the People’s Democratic Republic of Laos with an aim at cooperating with Laos to exploit coal for use in cement and construction materials industry; and for power generation in Laos.