What are the business lines of the Vietnam National Coal and Mineral Industries Group?
What are the business lines of the Vietnam National Coal and Mineral Industries Group? What are regulations on management of consumption of coal, alumina, industrial explosives and the internal market of the Vietnam National Coal and Mineral Industries Group?
What are the business lines of the Vietnam National Coal and Mineral Industries Group?
Pursuant to Clause 2 Article 4 of the Charter on organization and operation of Vietnam National Coal and Mineral Industries Group issued together with Decree 105/2018/ND-CP stipulating business lines of the Vietnam National Coal and Mineral Industries Group as follows:
a) Main lines of business:
- Coal industry: Survey, exploration, investment, construction, mining, transportation, screening, processing, purchase, sale, export and import of coal products, mine gas, underground water in mines. and other minerals associated with coal.
- Mineral and metallurgical industry: Surveying, exploration, investment, construction, mining, transportation, screening, ore enrichment, metallurgy, processing, manufacturing, buying, selling, exporting, import mineral products.
- Power industry: Investment, construction, electricity production; buy and sell electricity.
- Industrial explosives: Producing, buying, selling, storing, using, importing and exporting industrial explosives and ammonium nitrate.
b) Lines and trades related to the main business lines:
- Mechanical industry.
- Chemical industry and building materials.
- Port management and operation; transportation, pilotage, warehousing.
- Construction of mining, civil, industrial and traffic works.
- Geological exploration and survey; technical, scientific and technological consulting and investment; check product; training, medical; prevention, response, handling and remedy of mine incidents; activities to protect and restore the environment.
c) In the lines of business in which Vinacomin is investing its business capital other than those specified at Points a and b, Clause 2 of this Article, Vinacomin shall hold capital and divest capital according to the contents and schedule approved by the Prime Minister.
d) Depending on the time and production and business situation, Vinacomin may add other industries and trades that are not prohibited by law after being approved by the Prime Minister.
What are regulations on management of consumption of coal, alumina, industrial explosives and the internal market of the Vietnam National Coal and Mineral Industries Group?
Pursuant to Clause 3 Article 11 of the Charter on organization and operation of Vietnam National Coal and Mineral Industries Group issued together with Decree 105/2018/ND-CP stipulating management of consumption of coal, alumina, industrial explosives and the internal market of the Vietnam National Coal and Mineral Industries Group as follows:
Search domestic and foreign markets, customers and sign contracts. To uniformly manage the consumption of coal, alumina, industrial explosives and the internal market through the following mechanism:
a) Unify the focal point of mineral resource management in the Group of Vinacomin companies:
- For mineral mines which have been licensed to exploit for Vinacomin, Vinacomin is responsible for organizing and uniformly managing all stages from survey, exploration, exploitation, processing to product consumption. Vinacomin has the right to hire Vinacomin's member enterprises to conduct mining in accordance with the law through contracts. Vinacomin is the focal point for selling products after mining at mineral mines that have been licensed to exploit for Vinacomin.
- For mineral mines that have been licensed to exploit for subsidiaries, Vinacomin acts as the focal point to manage all stages from survey, exploration, exploitation, processing to product consumption through signing contracts with subsidiaries participating in business coordination plans in accordance with the law to unify management of resources, exploitation and processing technology. The products of coal, bauxite ore, alumina and some other important minerals, after mining and processing by subsidiaries, are sold to TKV through a contract so that Vinacomin will assume the prime responsibility for organizing consumption in domestic and foreign markets at the price agreed by the two parties on the basis of economic - technical norms and reasonable profits.
b) Vinacomin shall assume the prime responsibility for, and coordinate with subsidiaries and enterprises participating in the internal market of Vinacomin to agree and unify the assignment of management of the internal market of Vinacomin to ensure bring into play the internal resources of the economic group, create conditions for domestic enterprises to develop (including the mechanical market and strategic materials market).
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