State mining giant Vinacomin records $345 mln profit in 2022

Mining group Vinacomin reported a profit of VND8,100 billion ($345 million) in 2022, exceeding its target by 56% and up 154% year-on-year.

The state giant's revenue is estimated at VND165,900 billion ($7.1 billion), providing the state budget with VND21,060 billion ($897.26 million), according to a report released at its conference in late last year.

In 2022, the corporation exploited more than 39 million tons of raw coal, imported nearly 5 million tons of coal, and excavated nearly 158 million cubic meters of soil and rock.

Production and sales of alumina reached nearly 1.5 million tons. Production of copper concentrate and copper plates hit 105,000 tons and 30,000 tons, respectively. The amount of electricity it produced is more than 8 billion kWh.

On Thursday, the country's legislative body, voted to dismiss Le Minh Chuan, chairman of Vinacomin's board of members, from the position of National Assembly member.

Previously, on December 30, Prime Minister Pham Minh Chinh signed a decision to allow Chuan to resign from the position of Vinacomin's chairman.

Chuan, also chief of Vinacomin’s Party Committee, was disciplined by the prime minister in mid November for violations in his performance of duties.

Previously, in June, the Party Central Inspection Committee took disciplinary action against Chuan; Dang Thanh Hai, deputy chief of Vinacomin's Party committee and general director; and Nguyen Ngoc Co, deputy general director for their work-related violations.