The Ukraine to reduce expenses of coal industry by 2.7 billion hryvnias on account of wage of miners

On the results of the meeting in the Ukrainian Ministry of Energy and the Coal Industry, which took place on Wednesday, it was decided to reduce costs of the state-owned coal company Ugol Ukrainy by 2.7 billion hryvnias. The main sources of savings will be a reduction in the wages of miners, who work at state mines, by 1.7 billion hryvnias and decrease in purchases of materials, equipment and services by another for 445.5 million hryvnias.

Moreover, the Ministry of Energy and theCoal Industry banned state mines to sell graded coal directly, transferred the exclusive rights to sell "black gold" to the state-owned enterprise Ugol Ukrainy. According to the Ministry’s officials, such scheme of sales will increase the cost of coal by 28.5% and will give additional 30 - 40 million hryvnias per month.

Also, volumes of coal, which will be sent for processing, will be increased by 25% (4.4 million tons), including energy coal by 12% and coking coal - almost twice.