Reports from Vietnam suggest that a Japanese delegation led by Senior Vice Trade Minister Takamori Yoshikawa will today sign an agreement in the northern city of Halong with Vinacomin, the Vietnam National Coal-Mineral Industries Group, to explore for anthracite coal in the Pha Lai area of northern Vietnam.
Japan is the world's largest coal importer while Vietnam is its principal supplier of the smokeless coal used in steelmaking. Japan wants stronger ties with the Vinacomin, as it vies for supplies with China and India, the world’s first- and second-fastest growing major economies.
Japan will agree to provide Vinacomin with low-interest loans to develop coal resources and will export clean-coal technology to help Vietnam update inefficient coal-fired power generators, the official said.
The 60-member Japanese delegation includes senior officials from Sumitomo Corp., Marubeni Corp., Itochu Corp. and Electric Power Development Co., he said.
Japan imports 190 million metric tons of coal annually, according to the finance ministry. Thermal coal used for power generation accounts for 53 percent, and coking coal accounts for 42 percent. Japan imports 5.5 million tons of anthracite coal, and 40 percent of this comes from Vietnam.
Source: Bloomberg
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