The coal industry has set a target of exploiting 45-50 million tons of coal by 2030 under the coal development strategy to 2030 and vision to 2045.

The strategy has been approved by Deputy Prime Minister Tran Hong Ha.

Output will then gradually fall to 38-40 million tons by 2045.

The strategy aims to explore upgrading existing coal resources and promote the exploration of new coal mines.

The coal industry will work to begin pilot exploitation in the Red River coal basin before 2040, so as to proceed with industrial-scale mining before 2050 if proven viable.

A coal market with various sellers and buyers will be created, while coal sources and suppliers will be diversified towards the operation of a fully competitive coal market after 2030.

The export and import of coal will be conducted in line with market demand and following the government’s direction to meet domestic coal demand, especially for electricity generation.

In order to reach the targets, the Deputy Prime Minister’s decision states that the legal framework for the coal industry will be completed in line with the energy market’s development towards the efficient exploitation and use of coal resources and in conformity with actual conditions, international practices, and the country’s development trends.

State-run enterprises, particularly those operating inefficiently, in the coal industry will be restructured, while negotiations will be conducted for aid from international partners in the process of just energy transition in the industry, in line with the country’s energy transition trend towards net-zero emissions.