UPDATE 1-Vietnam to raise tariffs on mineral exports

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HANOI, June 10 (Reuters) - Vietnam will raise export tariffs on minerals, including crude oil and coal, to 20 percent this month, the Finance Ministry said on Tuesday, as it seeks to meet expanding energy demand in its fast-growth economy.

"The export tariff increases are aimed at reducing exports and encouraging domestic processing," the ministry said on the government website (www.chinhphu.vn).

Current export tariffs on crude oil are 8 percent and, for coal, 15 percent. The new 20 percent tax, which will also be applied to exports of lead, silver, manganese and uranium ores, will take effect on June 16, the ministry said.

Vietnam is a major coal supplier to China and a major crude oil exporter in Southeast Asia, with average daily output of about 300,000 barrels.

Officials at Petrovietnam said the state oil firm would have to incur the export tariffs by itself so the increase would not affect its crude selling prices. Petrovietnam has to export all its crude production as it lacks refineries.

Its first refinery, the 140,000-bpd Dung Quant plant, is expected to come onstream in February.

Hanoi said last month that Vietnam's coal output would rise 10.7 percent in January-May from a year ago, to 18.86 million tonnes, but exports were estimated to fall 15.7 percent to 11.4 million tonnes.

Vietnam, struggling to meet soaring energy demand in its fast-growing economy, plans to slash coal exports this year by almost a third to about 22 million tonnes to be able to feed new power plants, government officials have said.

Energy demand is expected to grow 18-20 percent annually, prompting the government to seek ways to diversify energy sources including coal, water, natural gas, wind power and nuclear. (Reporting by Nguyen Nhat Lam, Editing by Ian Geoghegan)