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Losses of state-owned mines of Ukraine in the 1st quarter of 2021 amounted to UAH 1.25 billion - ExPro

Mining industry / Ukraine

The negative result remains amid a significant increase in production .

Losses of state-owned mines of Ukraine in the 1st quarter of 2021 amounted to UAH 1.25 billion - ExPro

The total net loss of state-owned coal mining enterprises of Ukraine in the 1st quarter of 2021, compared to the same period in 2020, decreased by 5% - to UAH 1.25 billion. Coal production by mines that are under state control increased by 36% during this period to 858 thousand tons.

This was reported in ExPro , referring on the data on financial results and coal production published on the website of the Ministry of Energy of Ukraine.

The company Lisichanskugol managed to cut losses most of all in the 1st quarter of 2021 - by 73% - to UAH 151.6 million. And the largest increase in damage over this period was in Lviv Coal - from 2.7 to 209 million hryvnia.

Myrnoogradvugillia doubled its coal production during this period - up to 148.6 thousand tons in the 1st quarter of this year, and Yuzhnodonbasskoye No. 1 Mine Office - three times - up to 66 thousand tons.

As previously reported, the total volume of net losses of state-owned mines in Ukraine for 2020 remained at the level of 2019 and amounts to 2.844 billion hryvnia. Also, in 2020, coal production by state-owned enterprises decreased by 19.5% - to 2.8 million tons.

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