mineral exploration project – commodity prices – mining stock- trade and market

Vietnam National Coal-Mineral Industries Group (Vinacomin) submitted proposals to the government to raise the price of coal, because the production cost of coal used to produce an increase, especially fuel prices, labor costs and tax increment mining experience.

Vinacomin estimates that losses will be experienced Vinacomin about U.S. $ 167.7 million for the production of coal of about 11.2 million tons.

The experts criticized the proposals submitted by Vinacomin, due to rising coal prices benefit only to companies that monopolize the coal mining exploration in Vietnam. But the mining companies argue Vinacomin must make profit, so that mining companies can make investments and development of coal mines run by mining companies.

Minister of Industry and Trade Vu Huy Hoang said the proposed increase in coal would be considered by his ministry and the Ministry of Finance.

Although not yet made a final decision, however, the government plans to stand by the decision to adopt a market mechanism for trading in coal in the country this year, Hoang said a press conference in Hanoi on January 7.

Minister of Planning and Investment, Vo Hong Phuc, said that if coal prices higher for the energy sector, the impact of everyday life, the government will take measures necessary to stabilize the price later.

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