Vietnam's top coal producer Vinacomin, which mines 95 percent of national coal output, will have to reduce exports next year by 11 percent from 2007 to 19.5 million tons to save more for domestic consumption.

"The coal industry should calculate to save and use the country's "black gold" effectively," Deputy Prime Minister Hoang Trung Hai said in a government report seen Monday.

Hai also urged the group to look for coal overseas to raise supply for domestic consumers, mainly power and cement plants.

Most of the group's exports go to China and Japan.

The unlisted group planned to maintain its total production next year at 40 million tons, unchanged from 2007, the report said.

The group also asked to the government to deregulate domestic coal prices so it could raise more funding for new projects.

Vinacomin said it expected a pre-tax profit this year of VND2.4 trillion ($148 million) on a revenue of VND32.8 trillion ($2 billion), up 15 percent compared to 2006.

Admin (Theo Thanh Nien)