VIMICO: 20-Year Journey

Source: Pano feed

In October 2015, VINACOMIN - Minerals Holding Corporation (VIMICO) will celebrate its 20th anniversary, marking a milestone for a leading mining and metallurgical company in Vietnam. Efforts to affirm its position

In October 2015, VINACOMIN - Minerals Holding Corporation (VIMICO) will celebrate its 20th anniversary, marking a milestone for a leading mining and metallurgical company in Vietnam. Efforts to affirm its position

According to the State guidance, from the merger of Vietnam Rare Minerals Corporation and Vietnam Mineral Development Corporation, after many model transformations and admissions of new members, the corporation was officially called Vinacomin – Minerals Holding Corporation (VIMICO). At first, VIMICO had 17 member units with VND120 billion of working capital (VND82 billion from the State Budget) and over 7,800 employees. The corporation has expanded its operation nationwide.

Over the past 20 years of ups and downs, VIMICO is proud to now be a leading mining and metallurgical company in Vietnam. In 2014 alone, its sales reached VND3,800 billion, profit was VND120 billion. Most major business indicators exceeded the initial targets. Currently, VIMICO is carrying out its equitisation. From 2015, the holding corporation will be operated as a joint stock company with a registered capital of VND2,000 billion. VIMICO will administer three affiliated companies and hold controlling stake in 12 joint stock companies.

The results are accrued from the enthusiastic support of central authorities and the Vietnam National Coal, Mineral Industries Holding Corporation Limited (Vinacomin), the assistance of local governments where VIMICO operates, and importantly the effort, unity and consensus of the employees. Since its establishment, the corporation defined its successes would be built from natural resources; powerful and sustainable human resources; the friendliness to environment, the harmony with local communities and partners, and harmony among member companies and employees. Besides, VIMICO has used modern technologies and equipment to exploit, develop and process minerals.

In 2015, VIMICO will strive to fulfil its revenue target of VND4,270 billion, pay VND620 billion to the State Budget and provide a solid foundation for the successful implementation of 5-year plan (2015-2020). The current key task of the corporation is to carry out the approved restructuring and equitisation plan. In addition, VIMICO will regularly supervise investment, improve production capacity, lower product prices (copper, zinc, tin, iron, gold), and put key projects into stable operation. VIMICO will also accelerate the development of primary mineral resources for deep processing to feed its metallurgical production plants. Furthermore, VIMICO will build and implement mineral exploitation and processing optimisation programmes to cut costs and improve productivity. With its human resources development strategy, VIMICO is aggressively deploying the “Human resources training and development strategy” of the 2010-2015 period, with a vision to 2020.

Forward-looking in environmental protection

VIMICO is always acutely aware of its responsibilities and obligations to environmental protection and always compliant with environmental protection laws.

Accordingly, all activities of VIMICO must be related to environmental aspects first. New or upgrading projects must have environmental impact assessment reports carried out by capable and specialist units, environmental commitments, and environmental restoration schemes. To support the implementation of such contents, VIMICO has provided suitable modern, environment-friendly equipment and technologies for those projects. All member companies must have environmental protection units in charge of regular inspection, monitoring and assessment of production and processing impacts on environment and advising solutions and measures to tackle emerging issues.

Environmental protection units are trained with new professional expertise and updated on environmental protection regulations by Vinacomin every year. VIMICO often informs and raises awareness of employees in environmental protection to boost their sense of environmental protection.

Every year, VIMCO builds and gets environmental protection plans approved by Vinacomin Group and get VND10-12 billion for this task from the group (equivalent to 0.5 percent of mineral production and processing costs) to carry out regular environmental protection. Since 2010, VIMICO has been approved to invest VND72 billion on 10 environmental protection projects by Vinacomin. VIMICO’s production and business units are appreciated by central and local authorities for environmental works.

Upholding miners’ tradition

In fact, VIMICO’s units were set up before VIMICO was established. Tinh Tuc tin mine was the first non-ferrous metal production unit in Vietnam, founded in 1955. Co Dinh chromite mine was formed in 1955, Son Duong tin mine in 1964, Thai Nguyen Non-ferrous Metal Company and Nghe Tinh Non-ferrous Metal Company in 1980. VIMICO General Director Nguyen Tien Manh said, “Through the development progress of VIMICO and its member units, the miner tradition was formed and upheld from generation to generation with the fine virtues of solidarity, discipline, creativity, diligence, loyalty, class passion and mutual assistance to overcome hardships. These fine traditional qualities are the determinants of VIMICO’s successes in the past 20 years.”

Today, the miner tradition is always continued at VIMICO through many forms and methods like regular education and learning to cultivate and follow the moral example of President Ho Chi Minh, organising production movements, praising typical worker examples, build corporate brand and culture, taking care of employees’ health and livelihoods, and focusing on community and environment development. In the context of science and technology continuously developing and competition growing fiercer, educating and improving employee virtues is always an important task at VIMICO to foster the discipline and expertise level of employees to master equipment and technology. The corporation always takes the quality and efficiency of work done as the measure to assess an employee’s capabilities and contributions. The VIMICO miner tradition is fostered and nurtured, thus enriching the long history, culture, virtues and characteristics of VIMICO employees from generation to generation.

VIMICO always wants to receive the care and support from local authorities and people for its operations. The corporation is committed to complying with State provisions and programmes, integrating its operations with social welfare programmes, ensuring tax payment for State budget, and creating well-paid jobs for workers in Lao Cai, Cao Bang, Thai Nguyen and other localities.

Hoang Tinh

Đăng ký: VietNam News