After 30 years of development, TKV's total asset value increased more than 67 times.
Total coal revenue has increased from nearly VND1,300 billion in 1994 (the first year of the group's establishment under the name Vietnam National Coal Corporation) to VND175,000 billion in 2024, an increase of nearly 135 times.
As one of the three pillars of national energy, the position of Vietnam National Coal - Mineral Industries Group (TKV) is increasingly affirmed with proud achievements.
TKV's journey of continuous innovation and breakthrough over the past 30 years has been recognized with new advances in technological infrastructure and exploitation level, responsibility to the locality in economic growth and social security, and the goal of building a green business model and sustainable development.
Ensuring energy security
Since 1995, after TVN came into operation, coal output has increased steadily, not only meeting domestic demand but also exporting foreign currency, contributing to improving the trade balance, implementing the policy of curbing inflation, stabilizing the macro economy, creating investment accumulation to develop and expand coal production and develop other industries based on coal production.
 |
| Pouring coal at Cua Ong Coal Selection Company. |
In 1997, the coal industry reached an output of 11.3 million tons, marking the first time the Vietnamese coal industry surpassed the 10 million ton mark, the output level set by the 8th Party Congress for the year 2000. Very quickly, new records appeared.
In 2002, TKV achieved an output of 15.4 million tons, achieving the output target set by the Coal Industry Development Plan for 2005.
In 2005, with an output of 31.5 million tons, TKV continued to far exceed the output target set by the Plan for 2020. In 2007, TKV achieved an output of 42.2 million tons, surpassing the 40 million tons/year mark and has maintained an output level of around 40 million tons/year since then.
Total coal revenue has increased from nearly VND1,300 billion in 1994 to VND175,000 billion in 2024, an increase of nearly 135 times.
In particular, the underground coal mining sector has developed strongly on the basis of constant innovation and modernization of technology, from mainly manual mining and wood mining, the level of mechanization has been gradually improved and progressed to synchronous mechanization with advanced and modern equipment.
Thanks to that, underground coal output has increased from 1.8 million tons in 1994 (accounting for 25% of total coal output) to 27 million tons in 2024 (accounting for 73% of total coal output), an increase of 15 times.
 |
| Check the oven rack. |
The coal production capacity from the longwall has also increased from 20,000 - 50,000 tons/year to an average of 200,000 tons/year. Even the synchronized mechanized longwall at Ha Lam Coal Company has reached a capacity of 1.2 million tons/year - 60 times the capacity of the longwall in the 1994 period.
Coal loss coefficient also decreased from 40 - 50% to 19.02%.
It can be said that the underground coal mining sector has matured and taken on a major role in environmentally friendly coal mining.
Also contributing to ensuring national energy security, TKV has stepped up investment in developing power projects. By 2017, the total capacity of TKV power plants in operation was 1,730 MW.
Electricity production and consumption increased from 720 million kWh in 2006 to over 10 billion kWh in 2023 (an increase of 13.9 times), revenue increased from 432 billion VND to 14,000 billion VND (an increase of 32 times).
Production and supply of industrial explosives has continuously increased and become one of the industries with relatively large revenue and high efficiency.
From 2006 to 2023, production output increased from 46,000 tons to 65,600 tons (an increase of nearly 1.5 times) and supply output increased from nearly 76,000 to 102,000 tons (an increase of 1.3 times), corresponding to revenue increasing from 1,200 billion VND to more than 7,400 billion VND (an increase of more than 6 times).
 |
| Production line at Dak Nong TKV Company. |
In the mineral sector, from mainly exploiting and producing refined ores, mostly for export, TKV has stepped up investment in deep mineral processing and metallurgy such as the Copper Smelting Plant (Lao Cai) to produce copper metal with a capacity of 10,000 tons/year (put into operation in 2008) and has now invested in expanding to 30,000 tons/year; Electrolytic Zinc Plant (Thai Nguyen) with a capacity of 10,000 tons/year (put into operation in 2007); Tan Rai Alumina Plant (Lam Dong) with a capacity of 650,000 tons/year (put into operation in 2013), Nhan Co Alumina Plant (Dak Nong) with a capacity of 650,000 tons/year (put into operation in 2017).
The two factories annually produce 1.45 million tons of converted alumina, exceeding 10% of the design capacity, bringing high economic efficiency.
Putting the above-mentioned metallurgical plants and two alumina processing plants into operation has created a breakthrough in the quality of Vietnam's mineral industry in the direction of deep processing to meet domestic demand, reduce imports, save foreign currency, increase added value and create more jobs, contributing to improving the trade balance, stabilizing the macro economy and developing the economy - society in the Northwest and Central Highlands.
Preserve and develop state capital
In 1994, the Group's total revenue was 2,450 billion VND, and by 2023, the Group's total revenue had reached 1.3 million billion VND.
Total assets of the Group have grown steadily over the years. In the first 10 years of establishment, the average total assets reached 4,250 billion VND. From 2004 to 2013, the average total assets reached 62,800 billion VND. In the period 2014 to 2023, the average total assets reached 128,900 billion VND, the highest year was 2017 with the value of 140,000 billion VND.
 |
| Mechanization of underground coal mining. |
The total asset value of the entire Group in 2023 increased by more than VND 112,000 billion, equivalent to an increase of more than 67 times compared to 1994, demonstrating the remarkable growth of TKV's scale in both breadth and depth in production and business.
During its development journey, TKV has carried out profitable production and business, preserved and increasingly developed state capital in the Group, thereby enhancing financial capacity, ensuring safety and solvency of the Group.
From its establishment to the end of 2023, the total pre-tax profit of the entire Group reached VND 91,300 billion; equity increased from VND 778 billion to VND 40,900 billion.
During 30 years of construction and development, the Group has paid the State budget over 280,000 billion VND.
Sustainable development with the community
By proactively planning an environmental protection strategy since its establishment, every year, TKV Group of Companies has spent thousands of billions of VND to completely resolve environmental pollution left over from the past and prevent new pollution from arising, so the landscape environment of TKV's production and business areas "always ensures environmental friendliness, adapts to climate change" and gradually moves towards the goal of "Greening the mining environment" and the process of "Bringing parks into mines and factories".
 |
| Planting energy crops to restore bauxite mining land. |
TKV has also completed many projects to improve and restore the environment; dredging and building embankments for drainage systems of rivers and streams, reservoirs; building dams to contain rocks and soil at the foot of waste dumps; improving and building specialized transportation routes; building wastewater treatment systems, dust suppression, waste collection and recycling.
Tree planting activities to renovate post-mining areas and restore the ecological environment have reached over 21,000 hectares, annually treating 140-150 million m3 of mine wastewater to ensure environmental discharge standards, building automatic environmental monitoring stations that are directly connected and continuously transmit data to the local Department of Natural Resources and Environment.
TKV has completed the implementation of the "Urgent Environmental Protection Project for the Coal Industry in the 2016-2020 period" to ensure its commitment to Quang Ninh province to address environmental risks and challenges, prevent natural disasters that occurred after the historic flood in 2015, ensure safety for production and residents, protect the common environment, and adapt to climate change.
 |
| Production control department of Dak Nong Aluminum Company. |
As of January 1, 2024, TKV will only have 65 subsidiaries and units under the Group.
Due to organizational restructuring, re-sizing the workforce, handling surplus labor and applying 3-in-1 solutions (mechanization - automation - computerization), the number of employees of the whole Group has decreased from 121,990 people in 2014 to 94,670 people in early 2024.
Special attention is paid to occupational safety and health care for workers. In addition to other activities as prescribed by law and safety regulations, TKV has assigned the Coal and Mineral Hospital to be in charge of health care, occupational disease treatment, and lung washing for workers; the Mine Emergency Center and the Mine Safety Center are in charge of occupational safety.
 |
| Mine workers' buffet ensures nutrition. |
Thanks to the drastic solutions that have been implemented, the mining environment, safety and health of workers have gradually improved significantly. On that basis, the Group's production and business activities are developing in the direction of safety, environmental friendliness, green growth, adaptation to climate change and sustainability.
At the same time, TKV and its member units have always actively participated in poverty reduction activities, new rural development, socio-economic development of islands, gratitude, child protection, disabled people, charity work... with a total contribution of thousands of billions of VND, typically: supporting 3 poor districts according to Resolution 30a of the Government dated December 27, 2008 with 241 billion VND; bringing electricity to Co To Island (Quang Ninh) with a cost of over 163 billion VND and Ly Son Island (Quang Ngai) with 150 billion VND; in Lam Dong Province, TKV has supported 320 billion VND to renovate Provincial Road 725 when building the Tan Rai Alumina project. In Dak Nong Province, it supported 180 billion VND to the Province to eliminate dilapidated houses; supported the construction of Quang Ninh Lung Hospital worth 245 billion VND; Construction of Cam Pha City Square 94 billion VND... During the Covid-19 pandemic, TKV directly spent from the parent company TKV to support the Central and localities in disease prevention work with an amount of 289 billion VND including support for purchasing vaccines, medicines and medical equipment of all kinds.
TKV's output target of main products by 2030:
– Commercial coal output: from 35 to 40 million tons
– Coal imports: 15 to 20 million tons.
– Total revenue: 8 billion USD.
– Total investment for the 2025 – 2030 period: 173,000 billion VND. Of which, the coal industry sector is 60,000 billion VND; the mineral industry sector is 98,000 billion VND; the electricity industry sector is 5,000 billion VND; the industrial explosives sector and other sectors are 10,000 billion VND.
– Other products: 4 million tons of Alumina; 900,000 tons of aluminum ingots; 160,000 tons of ilmenite concentrate; 100,000 tons of titanium slag; 30,000 tons of copper plates (with 940 kg of gold and 1,150 kg of silver); 15,000 tons of zinc ingots; 6 million tons of iron ore concentrate; 30,000-80,000 tons of rare earth ores; 61,000 tons of industrial explosives; 205,000 tons of Ammonium Nitrate and 11 billion kWh of electricity.
Comment (0)