Vietnam National Coal and Minerals Industries Group has said the country will
have to start importing coal in 2013 with an annual volume of up to 20 million
General Director Nguyen Van Hai said Vietnam may have difficulties in importing
planning to work with our partners in mining projects overseas so that we will
be able to bring coal to the country," Hai said at a press briefing in Hanoi
national coal monopoly, also known as Vinacomin, announced Wednesday that the
government has allowed it to increase prices.
to Vinacomin, a price hike is necessary as production costs would surge due to
deeper mining. Salaries for miners also need to be raised this year, it said.
supplied to Electricity of Vietnam have been raised by between 27 and 48
percent, lower than Vinacomin's price hike proposal of up to 149 percent.
after the hike Vinacomin would still have to suffer losses as the new prices are
still 20-30 percent lower than production cost and 50-60 percent lower than
the government will allow us to raise prices of coal supplied to the power
sector at the end of this year so that production cost can be recouped."
coal consumption is projected to climb to 90 million tons in 2015 from just
under 20 million tons this year as a series of new thermal power plants become
power prices have been increased by 6.8 percent since March 1 ahead of the
expected coal price hike.
Industry and Trade Minister Do Huu Hao said last week it would be the only power
hike of the year.