Some UAH 500 mln to be raised for development of eight state mines

16:22, 20.10.2016 1 min read

It is planned to attract loans of UAH 500 million in the development of eight state-controlled mines, Ukrainian Minister of Energy and Coal Industry Ihor Nasalyk has said.

"There defined eight mines in which we will invest. We have found credit facilities for about UAH 500 million, which will be invested not to decrease coal production. These are the following mines: Pivdennodonbaska No. 1, Pivdennodonbaska No. 3, Stepova," he said.

Nasalyk also said it is planned to foresee UAH 800 million in the national budget for 2017 for the implementation of the program to liquidate unprofitable mines.

"But before liquidation we will show how miners will adapt to other sectors," he said.

As reported, coal mining enterprises managed by the ministry reduced production by 12.2% in January-September 2016 (by 611,000tonnes), to 4.405 million tonnes, in particular extraction of coking coal decreased by 16.2% (by 237,300 tonnes), to 1.224 million tonnes, steam coal by 10.5% (by 373,700 tonnes), to 3.181 million tonnes.