Nhan Co Alumina plant achieves 56% of annual production target and earns US$41 million revenue in H1 2018

According to a report from the Dak Nong Aluminum Company of Vietnam, its Nhan Co Alumina plant in the Central Highland province of Dak Nong earned more than 3.2 trillion VND (US$141 million) in revenue in the first half of 2018.

The company belongs to the Vietnam National Coal and Mineral Industries Group (Vinacomin). The refinery produced more than 324,000 tonnes of alumina in the first half of 2018, which is about 56% of the annual alumina production target. The plant’s total alumina output stood at 600,348 tonnes in one year of operation.

Out of the total production in the first half of 2018, 303,000 tonnes of alumina produced by the Nhan Co plant were consumed during the January-June period, about 55.6% of the annual target.

Vinacomin Chairman Le Minh Chuan attributed the reduced cost of production and increased production efficiency to advanced technical solutions, rational production chains, and strict cost managements.

Nhan Co’s products has 98.6% alumina content and are supplied to foreign markets like Japan, the Republic of Korea, Hong Kong (China), Singapore, the United Arab Emirates (UAE) and Sweden.

Vinacomin also inked long-term alumina supply agreements with its partners in India and the UAE.

The Nhan Co plant plans expect to produce 580,000 tonnes of alumina for the full year 2018 and earn 4.46 trillion VND (196.24 million USD) in revenue, and contribute 424 billion VND (18.65 million USD) to the state budget.

The annual production target is set at 630,000 tonnes of alumina, up 8.6% from the amount assigned by Vinacomin.  

According to the Director of the company Hoang Khai Quoc Minh, Nhan Co would work towards mastering the state-of-the-art production line by investing in the analysis of technical system in order to ensure stable operation. The company will also focus on sustainable growth and optimum use of bauxite resources.