The course of development
The Vietnam National Coal - Mineral Industries Group (formerly Vietnam National Coal Corporation) was established on October 10th, 1994, under Decision No.563/0DD- TTg of the Prime Minister of Vietnam. Implementing an important task assigned by the State, right from the time of coming into being, the Group set up a plan for "innovation of structure and management in order to improve operational efficiency", choosing the strategy of "developing diversified businesses based on coal operation" and the policy of "growing with customers and partners".
With the set strategic goal, the Vietnam National Coal -Mineral Industries Group (Vinacomin) made substantial changes in management mechanism, in product sales and operation organization model, in financial and economic measures, actively investing in innovation of coal mining technology, in refurbishment of technological line for coal extraction, preparation, and loading terminals.
Based on coal business, Vinacomin Group employs available human resources from coal operation for developing other businesses such as mining machinery with modernization of repairing shops, stimulation of manufacturing, assembling and producing dum-trucks, building ships; construction of power plants; investing in improvement of mineral output; production of industrial explosive materials, cement, building materials, attention is paid to scientific research work, application of new technologies, protection of environment; trading and services are also developed.
During the last 12 years of development, the staff and workers of Vinacomin Group have made unceasing efforts, shown initiative and creative spirit, reconfirmed their strength with solidarity, determination to overcome difficulties, striving forward, accomplishing the planned targets with ever better achievements.
In 2003, with 18 million tons of coal produced and sold, the company was the first in the country to reach and surpass the 5-year (2001- 2005) planned targets two years in advance.
In 2006, celebrating the 70th anniversary of the Miners' Day and the Coal Industry Tradition, Vinacomin Group once again changed its management mechanism, with strategic objective of "moving forward to prosperity from mineral and human resources" and the policy of "developing in harmony and friendliness with environment, with local community, with partners and customers, and among the Group", the Group and its affiliates concentrated their resources, produced and sold 37 million tons of coal, exceeding the planned target for the year 2010 approved by the Prime Minister.
The coal industry does not only satisfy the demand of the national economy but also spare an important part for export, off-setting the loss in domestic market and performing accumulation. It has conserved and increased the business capital, gradually stabilized then improved the miners' working and living conditions.
The dignity and vitality of the miners during the historical course of formulation and development are the spirit of "Discipline and Unanimity", the tradition being preserved and promoted by generation after generation of miners, making glorious achievements, building the Group a strong, fast-growing and effective one with ever rising position.
The staff and workers of Vinacomin Group always deserve its heroic history evidenced by the noble award of "Golden Star" medal and the holy title of "Hero of Labour" in the innovation era