Coal industry needs 18,000 billion VND capital each year

According to Decision 403/QD-TTg on adjusting the coal industry planning until 2020, taking into account the year 2030, the investment capital demand of the coal industry until 2030 is more than 269,000 billion VND, which means an average of nearly 18,000 billion VND/year.

Of this, the estimated need for new investment and expansion is VND235,906 billion. The remainder is for investment to maintain production.

Decision 403/QD-TTg also specifically lists projects that need investment and expansion. Accordingly, by 2020, investment will be made to renovate, expand, and increase the capacity of 9 mining projects (4 projects in Cam Pha, 4 projects in Hon Gai, 1 project in Uong Bi); and investment will be made to build 41 new mining projects (17 projects in Cam Pha, 7 projects in Hon Gai, 17 projects in Uong Bi).

Invest in renovating and expanding existing open-pit mine projects in the direction of innovating advanced and synchronous equipment and technology to increase mining output; invest in expansion projects to increase the capacity of Na Duong coal mine.

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For the Red River coal basin, investment in a number of pilot projects using underground mining methods and underground coal gasification technology in explored areas, as a basis for investing in mine development on an industrial scale and/or implementing a number of additional pilot projects (if necessary) to select appropriate mining methods and technologies, will continue to be strongly implemented in the period 2021 - 2030.

Also to improve the quality of clean coal, coal screening and processing plants will be developed in the direction of gradually reducing small screening clusters to form centralized and synchronized screening areas. Coal will be processed in the direction of maximizing types for electricity production; diversifying products to meet domestic demand.

In this stage, from now until 2020, we will continue to invest in building new coal preparation plants including Vang Danh 2 (capacity of about 2 million tons/year); Khe Than (capacity of about 2.5 million tons/year); Hon Gai (capacity of about 5 million tons/year, of which, building new module 1, capacity of 2.5 million tons/year in Ha Khanh ward and maintaining Nam Cau Trang Plant until the end of 2018; after 2018, move Nam Cau Trang Plant to the location of Hon Gai Coal Preparation Plant to install module 2, capacity of 2.5 million tons/year); Khe Cham (capacity of about 7 million tons/year); Lep My (capacity of about 4 million tons/year).

In the period of 2021 - 2030, invest in renovating and expanding, increasing the capacity of Khe Than screening and selection plant from 2.5 million tons/year to about 5 million tons/year.

According to calculations, Vietnam's total coal reserves and resources as of December 31, 2015 were approximately 48.88 billion tons, including 2.26 billion tons of reserves and 46.62 billion tons of resources, including 0.34 billion tons of peat.

Coal reserves and resources mobilized into the planning are about 3.05 billion tons, including about 1.22 billion tons of reserves and 1.83 billion tons of resources, including 0.06 billion tons of peat.

To seek capital for development, the Government also allows the coal industry to use various forms such as financial leasing, bidding for some mining activities, issuing bonds, stocks and commercial loans. Foreign cooperation in coal mining is also approved in areas where the coal industry has not yet mastered the technology, such as coal mining under civil and industrial works, water storage areas, etc.

The coal industry will also continue to implement coal prices according to market mechanisms, to encourage the effective and economical use of resources for sustainable development.

According to Baodautu