The Vietnamese government has approved plans to restructure the state-owned coal company Vietnam Coal and Mineral Industries Group (Vinacomin). The government has approved the 2017-2020 plan for the company, which is set to focus on the following business fields: coal, minerals and metallurgy, electricity and industrial explosives. The parent company will be equitised in 2019 with the state retaining a 65% interest, while some units will be merged, restructured or dissolved. In addition, Vinacomin will divest 16 companies.
Vinacomin was established in 2005 by the merger of the Vietnam Coal Corporation (Vinacoal) and Vietnam Minerals Corporation. It accounts for 95% of the total coal production and provides coal for the power sector. Vinacomin produces 8.5 Mt/year from its Vang Danh, Uong Bi and Nam Mau coal mines, about 3 Mt of which are grades that are not used domestically.
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