THE Vietnam National Coal and Mineral Industries Group will spend US$412,000,000 in technology upgrades and production development this year.

Vinacomin will focus on automating its coal extraction process and plans to acquire new processing equipment.

Vinacomin recently signed an agreement with Aluminium Corporation of China Limited to open a bauxite mine and aluminium production facility in Vietnam 's Central Highlands province of Dac Nong .

The facility will produce 1.9 million tons of aluminium in the first phase of the project. The second phase of the project includes the construction of a 600 MW thermal power plant and another aluminum refinery with an annual aluminium production capacity of 300,000 tonnes.