What are the concentrated expenses of the Vietnam National Coal and Mineral Industries Group?

What are the concentrated expenses of the Vietnam National Coal and Mineral Industries Group?

Pursuant to Clause 3.a Article 12 of the Charter on organization and operation of Vietnam National Coal and Mineral Industries Group issued together with Decree 105/2018/ND-CP stipulating concentrated expenses of the Vietnam National Coal and Mineral Industries Group as follows:

- Expenditure on exploration of coal - minerals: Used to pay for activities of investigation, survey, geological exploration, engineering geology, hydrogeology, hydrometeorology of coal and mineral mines (including including new exploration and additional exploration to upgrade reserves); expenditure on planning, formulation of exploration licensing scheme, making report on the results of exploration; expenditure on topographic mapping, movement monitoring and measurement; expenditure on construction of lava map, coal and mineral quality map; spending on building geological database of coal and mineral mines.

- Coal - mineral environmental costs: Used to spend on environmental protection activities, invest in works for environmental protection and solve and overcome environmental problems and natural disasters. This includes expenses for construction, renovation and repair of works, systems of waste collection, storage, treatment and recycling, drainage systems, water treatment, dams, embankments, culverts, and systems. system to prevent, control and prevent environmental pollution in the process of mining, screening, processing and consuming coal and minerals; spending on environmental reclamation and restoration of waste dumps, mining sites, production areas and polluted areas within the management boundaries; spending on settlement and overcoming of environmental incidents and natural disasters.

- Expenditure on mine emergency: Used to invest in special equipment for mine emergency; recurrent expenses for the operation of the mine emergency center under Vinacomin; Expenses for mine emergency activities, including: supplies, specialized tools for mine emergency, chemicals, and mine rescue tools.

- Training and medical expenses: Used to spend on training activities for specific occupations, training technical workers in underground mines, and training and fostering technical and professional knowledge for staff. , technical workers, to organize the competition for excellent workers throughout the Group; expenditures on medical examination and treatment for occupational diseases and functional rehabilitation for employees; recurrent expenses for the operation of schools, hospitals, and medical centers in the Group of Vinacomin companies, expenditures on the implementation of health management tasks for the whole Group, national programs on medical economy and epidemic prevention and control.

- Expenses for renovation of labor structure: Used to provide financial support for employees who retire before their age or quit their jobs to renovate the structure, reduce the number and improve labor productivity.

What are obligations of the Vietnam National Coal and Mineral Industries Group to its subsidiaries and associates?

Pursuant to Clause 1 Article 19 of the Charter on organization and operation of Vietnam National Coal and Mineral Industries Group issued together with Decree 105/2018/ND-CP stipulating obligations of the Vietnam National Coal and Mineral Industries Group to its subsidiaries and associates as follows:

a) Orientation of operational goals and business strategies of subsidiaries according to Vinacomin's business strategies in accordance with the charter of the subsidiary;

b) Assume the prime responsibility for formulating, approving and organizing the implementation of business cooperation plans on the basis of promoting advantages, effectively exploiting the internal market, creating synergy, and effectively using resources, avoid or limit duplicated, scattered investment;

c) Lead and direct the implementation of activities: Research and application of science and technology; train; marketing and trade promotion; international cooperation and a number of other activities in order to create conditions for subsidiaries and associated companies to expand and improve production and business efficiency;

d) Exercise the controlling rights of Vinacomin over its subsidiaries according to the charter of Vinacomin must not abuse its controlling power to harm the interests of subsidiaries, affiliated companies, creditors, shareholders, other capital contributors and related parties.

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