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“Fuel for Power: TKV Supplies Over 23 Million Tons of Coal for Electricity Generation in the First Half of 2024”

The Vietnam National Coal-Mineral Industries Group (Vinacomin or TKV) reported that in the first half of the year, coal consumption reached 26.77 million tons, of which 23.47 million tons were supplied to the power sector.

Administrator

6 July, 2024

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TKV Reports Significant Increase in Coal Production for the First Half of 2024

TKV announced that in June, the company produced 3.28 million tons of raw coal, with a consumption of 4.6 million tons. Additionally, they excavated 12.52 million cubic meters of earth, and mined 22,022 meters of tunnels. They also produced 124,000 tons of aluminous minerals and consumed 115.3 thousand tons. The production of copper matte reached 9.18 thousand tons, along with 2,099 tons of copper sheets, 885 tons of zinc ingots, and 18.26 thousand tons of steel billets.

For the first six months of 2024, TKV’s commercial coal output reached 27.36 million tons, representing 52.9% of the plan and a 111% increase compared to the same period last year. Raw coal production stood at 20.61 million tons, accounting for 53.2% of the annual plan and a 103.7% year-on-year increase. Earth excavation reached 79.96 million cubic meters, equivalent to 52.1% of the annual plan and a significant 130.8% increase from the previous year. The total length of mined tunnels was 130,726 meters, a 100.5% year-on-year improvement.

Coal consumption for the period reached 26.77 million tons, representing 53.5% of the plan and a 108.6% increase compared to the same period last year. Notably, TKV supplied 23.47 million tons of coal to power plants, amounting to 56% of the plan and a 112.5% increase, with an additional 2 million tons compared to the previous year.

In the first half of the year, TKV generated 5.26 billion kWh of electricity, a substantial 114% increase year-on-year. Additionally, they produced 42,836 tons of chemicals and industrial explosives, equivalent to 58.4% of the annual plan and a notable 118% increase from the previous year.

TKV’s revenue for June 2024 reached VND 15,824 billion. For the first six months, the company’s total revenue was estimated at VND 88,980 billion, representing 50.8% of the annual plan and a 106.6% increase compared to the same period last year.

For July 2024, TKV has set targets to produce 2.86 million tons of raw coal, excavate 10.71 million cubic meters of earth, and mine 23,210 meters of tunnels. They plan to import 1.7 million tons of coal and consume 4.0 million tons. Additionally, they aim to produce 108,000 tons of alumina, 8,300 tons of copper matte, 2,600 tons of copper sheets, 750 tons of zinc ingots, and 19,200 tons of steel billets. Their electricity production target is set at 815 million kWh, with a plan to produce 5,600 tons of explosives and consume 9,000 tons. Amon Nitrat production is targeted at 15,000 tons, with a consumption of 12,500 tons.

To achieve these goals, TKV will promote labor competitions and focus on directing production units to be proactive and flexible. They will also maximize resources and capabilities to strive for the completion of production and business targets for 2024. Additionally, TKV will implement programs for mechanization, computerization, automation, and digital transformation to increase labor productivity, reduce production costs, and enhance production and business efficiency.

Furthermore, TKV will take proactive measures for disaster prevention and rescue, focusing on completing environmental and flood protection projects as per the set timeline. They will also coordinate with other units to address challenges in implementing the 2024 business coordination plan, ensuring job security and income for employees, and promoting the use of domestic production materials as directed by the Prime Minister.

Nhật Quang