26.11.2022, 19:58

Cao Son Coal focuses on targets

Despite difficulties, the company has recorded encouraging achievements in the first half of 2022.

However, in the third quarter of this year, heavy rains and flooding raised water levels in coal pits, especially in the Khe Cham II (KCII) area, severely challenging the company’s mining operations and production. Water on the mining floors in the south of the KCII area have subsided, but landslides are interrupting many transportation routes.

Cao Son Coal focuses on targets

The company reached encouraging achievements in the first nine months of this year

At the KCII area, although the company increased the number of pumping systems from six in 2021 to nine in September 2022, the drainage pumping demand has not been met. This problem is expected to increase mining costs and decrease output.

Cao Son has been promoting the application of the Fourth Industrial Revolution or Industry 4.0 to help the company improve production efficiency and minimize costs. As a result of its efforts, the company reached encouraging achievements in the first nine months of this year.

Specifically, in the first nine months of 2022, it excavated 44.778 million cubic meters of soil and rock, 73.4 percent of the plan assigned by Vinacomin, mined 5.576 million tonnes of green coal (87.13 percent of the target), sold 5.739 million tonnes of coal (91.2 percent of the target), earned a before-tax profit of an estimated VND181.877 billion (265.7 percent of the 2022 target), and paid an average employee salary of more than VND11.5 million/capita/month (108.3 percent of the 2022 target).

Cao Son Coal Joint Stock Company’s meeting reviewing the first nine months and launching a role-model campaign for the last quarter of 2022

Responding to a Vinacomin’s campaign, Cao Son set targets for the fourth quarter of 2022, including excavation of 19.32 million cu.m of soil, production of 1.733 million tonnes of coal, sales of 1.72 million tonnes of coal, a total revenue of VND2.108 trillion and an average monthly employee salary of VND12 million/person.

The company aims to assure coal mining and production efficiency, as well as the quality of coal, improve and expand coal transportation routes, minimize costs, maintain or improve employee incomes, and reach its fourth-quarter and 2022 targets.

VietNam Economic News