Coal imports surge high

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Vietnam imported more than 9.7 million tons of coal valuing at US$600 million during the first eight months of this year.

The figure is much higher than the 500,000 tons imported in 2015 for domestic use.

Russia remained the biggest seller of coal to Vietnam with 2.8 million tons, trailed by Indonesia (1.8 million tons) and China (1.4 million tons). However, the coal imported from Russia costs Vietnam only US$63 per ton, which was lower than that from China with US$71 per ton.

According to the Vietnam coal industry development planning up to 2020 with a vision to 2030 announced by the Ministry of Industry and Trade (MoIT) last month, coal output will reach 47-50 million tons by 2020, 51-54 million tons by 2025 and 55-57 million tons by 2030.

The MoIT forecast that with current reserves, Vietnam can exploit coal for several hundred years. The northeast coal basin alone can supply enough coal for the next 40-50 years.

Meanwhile domestic demand for coal will double the production output, around 112.3 million tons by 2020 and 220.3 million by 2030.

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Import demand for the operation of thermal power plants, steel and cement plants is on the rise. The Vietnam National Coal and Mineral Industries Group (Vinacomin) plans to import around 20-30 million tons of coal by 2020 for electric power plants.