July 15, 2008

Ukraine to Sale Unprofitable Coal Mines

Text of report by Ukrainian regional TV channel Ukrayina on 14 July

[Presenter] Ukrainian mines will become private. The government has prepared 22 lots for sale which include 120 coal mines, Coal Minister Viktor Poltavets said today.

He believes said that, first and foremost, it is necessary to sell mines that burden the state budget. They account for 47 per cent of Ukrainian coal mines. The amount of coal they extract is low and the ministry's spending on them is high.

[Poltavets, in Russian] There will never be enough state budget funds to further support these mines. By giving budget money to these enterprises we also destroy good mines that provide 1 to 2m tonnes of coal as they are not developing.

Originally published by Ukrayina TV, Donetsk, in Ukrainian 1600 14 Jul 08.

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