Ukrainian President favors coal industry privatization

The Ukrainian President Viktor Yushchenko spoke in favor of privatization of unprofitable coal mines during his recent working visit to the Donetsk region. In the current economic situation, where the prices of natural gas, oil and other natural resources are continuously rising, Ukraine needs to develop its coal industry to be self-sufficient in this raw material. The development of the coal industry would also make Ukraine more independent in terms of energy supplies. Therefore, speaking in relation to the coal industry, Mr. Yushchenko stated that, instead of closing unprofitable mines, the country needs to transfer them into private hands.