The Ministry of energy and coal industry of Ukraine is going to temporarily stop the construction of Novovolynskaya #10 mine due to the lack of finances.
“To finish construction we need 1.5 billion UAH. I’m dealing with its closing down”, said the ministry head Vladimir Demchyshin.
According to him, it was planned to bring in an investor to finance construction, but such an investor was never found. But the minister believes the mine could be constructed if it is privatized.
This year the ministry plans to provide 100 million UAH to keep the mine in its current condition. While last year Demchyshin claimed the mine would be constructed in the first half of 2016.
The construction of the mine began in 1989. Its project capacity was planned on the level of 0.9 million tons of coal per year with 37.8 million tons of deposits. (Ukrainian metal)