TKV breaks through third quarter targets

Since the beginning of the year, Vietnam National Coal - Mineral Industries Group (TKV) has focused on removing difficulties, boosting production, striving to soon complete production and business targets for the first 6 months of the year, creating momentum to complete the 2024 goals.

These days, production teams at Cao Son Coal Joint Stock Company's quarry are stepping up their competition, striving to complete the third quarter's goals.

In 2024, Uong Bi Coal Company - TKV strives to produce more than 2 million tons of coal, consume more than 1.9 million tons, and dig 27,600m of new tunnels. To increase the mine's capacity, the Company is currently implementing key projects, including: Underground mining in Tan Yen area - Dong Trang Bach mine; underground mining project in Dong Vong mine; expanding open-pit coal mining in Uong Thuong expansion and Dong Vong area; Trang Bach mine waste dump; planning of industrial yard, +30 operation area of Trang Bach mine, +37 area of Trang Khe area. Investing in underground mining projects in the current period is important for Uong Bi Coal in ensuring production maintenance and employment for workers.

Despite facing difficulties in terms of increasingly narrowing and shrinking production areas, and having to change the area of the market many times, the Company has promoted the emulation movement of labor, production, and creative labor, overcoming difficulties to complete production and business plans, ensuring occupational safety and health. In the first 6 months of 2024, Uong Bi Coal Company has exploited more than 1 million tons of raw coal, reaching more than 50% of the yearly plan.

Currently, TKV and Uong Bi Coal Company are urgently removing difficulties, resolving investment procedures, detailed construction planning; approving investment policies, and assessing environmental impacts for a number of mine development investment projects.

To ensure coal supply for thermal power plants according to the Prime Minister 's direction and commitment to the Electricity Group, from the beginning of 2024 until now, TKV has operated coal production, import, processing and consumption at high intensity. However, in the first 6 months of this year, TKV faced many difficulties such as heavy rains appearing early causing difficulties for coal production, late approval of coal export, and at the same time, the demand for coal from fertilizer and cement households decreased sharply, ... leading to high-quality coal consumption being very low compared to the plan, domestic coal selling prices for electricity households have not increased since 2019, reducing TKV's business efficiency. TKV's coal production units have made efforts to overcome difficulties and completed production and business targets.

According to TKV's report, in the first 6 months of 2024, TKV produced 20.61 million tons of raw materials, reaching 53.2% of the yearly plan. In addition, coal consumption reached 26.7 million tons. The fields of aluminum production, electricity, mechanics, chemicals, industrial explosives... produced stably and achieved the set progress plan. The total revenue of the Group in the first 6 months of 2024 reached more than 88,900 billion VND, reaching 50.7% of the yearly plan; profit reached nearly 1,500 billion VND; TKV's total budget payment was more than 13,000 billion VND, equal to 52.2% of the yearly plan. In Quang Ninh , TKV paid more than 8,000 billion VND to the budget, equal to 51.2% of the expected payment for the whole year of 2024.

Entering the third quarter, the demand for coal for thermal power plants increased, but this was also a time of extreme weather, the impact of storms and hot weather put considerable pressure on units in TKV. However, closely following the production and business plans and production and consumption directions of the Group, the units made efforts to boost production, overcome difficulties, and implement assigned planning targets.

Workers of Ha Long Coal Company control the support system in the furnace.

The development of the coal industry not only plays a key role in the socio-economic development of Quang Ninh province but also creates jobs and income for tens of thousands of local workers. Along with stabilizing production and business, recently, Quang Ninh province and the coal industry have closely coordinated to focus on removing difficulties and obstacles. Typically, on June 19, Quang Ninh province had a working session with TKV to resolve a number of difficulties and obstacles in production and business.

Mr. Dang Thanh Hai, General Director of the Group, emphasized: In order to develop production, meet the coal demand of the economy, especially coal for electricity production, TKV has made efforts to boost production, focusing on investment projects. TKV requested Quang Ninh province to continue to pay attention to resolving difficulties and problems related to the termination of the business cooperation contract with Vietmido; consider approving the investment policy to build Con Ong - Hon Net port; plan connections with traffic infrastructure in the area; resolve land management procedures; promptly complete the compensation plan, support land clearance for Nam Cau Trang coal screening plant so that TKV can hand over land to the locality to construct the project on schedule. At the same time, allow TKV's coal production units to sell waste rock after processing to construction material production and site clearance units.

Currently, Quang Ninh province has approved investment in 10 projects of TKV in the province, especially mine development projects, creating conditions for production development for TKV. TKV's projects have great significance in contributing to growth in the investment sector as well as the development of the province. To remove difficulties for the Vietmindo project, the province is assigning the Department of Planning and Investment to urgently work with the Ministry of Planning and Investment and related ministries and branches and report to the provincial leaders.

On that basis, the province reported to the Prime Minister on the cooperation process, mine closure, and final settlement of issues related to the Vietmindo project in accordance with legal regulations. Quang Ninh province agreed to let TKV propose an investment policy for the project in accordance with the Investment Law, ensuring compliance with legal regulations, and in the direction of a general port that serves both the Group's production and business and the province's economic development. TKV needs to research, hire consultants, and coordinate with provincial departments and branches to accelerate project investment work, ensuring investment efficiency.

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