The Ukrainian government has fixed the 2009 weighted-average coal prices for state-owned mines at levels of UAH 487/mt (approx. $60.6/mt) for power-generating coal and UAH 849.2/mt (approx. $105.7/mt) for coking coal.
Accordingly, such fixed prices will enable the sector to attract an additional reserve of UAH 2.6 billion (approx. $324 million) by the end of the current year, and will allow optimization of the expenditure of the state budget for coal mining companies.
Earlier this week, the Ukrainian cabinet of ministers decided to increase the price of coking coal produced by state-owned companies to the level of import prices. According to the Ukrainian minister for industrial policy Vladimir Novitsky, the new price for coking coal will be UAH 748/mt (approx. $93.2/mt), excluding VAT.