The total revenue of Russian coal enterprises in the first half of 2023 decreased by 29% compared to the same period in 2022, reaching 1.137 trillion rubles. The agency reports that Interfax Referring to the report of the environmental safety working group by Anatoly Yanovsky.
Pre-tax profits of coal companies fell by 52% in this period to 279 billion rubles. The decline in revenue and profit occurred due to lower coal prices and increased operating costs.
According to Yanovsky, coal miners’ tax payments in the first half of the year decreased by 51% to 126.4 billion rubles. Production cost increased by 48-49% by 2021. This is due to wage indexation and increased equipment depreciation.
Yanovsky also noted that about 80% of all equipment of Russian coal companies is imported. This creates risks in the current environment of sanctions and logistical restrictions.
Before that, the head of the Ministry of Economic Development Maxim Reshetnikov appreciated Speed of implementation of import substitution projects with Belarus.
Previously Russian Federation and UAE discussed industrial cooperation.