Energy Headlines

President Victor Yushchenko took part in a festive gathering dedicated to Coal Miner Day that was arranged in Donetsk.

In his address at the event President Yushchenko stressed assurance that Ukrainian coal industry has enormous potential because world prices for energy resources are constantly growing.

He also said that more radical reforms are needed in the industry particularly in the field of management, property type change, security, investment, etc.

According to President in order to conduct such reforms effectively the Cabinet and profile ministries should elaborate more clear position.

In his address President Yushchenko also brought up subject of prices for coal, saying that many coalmines that were closed due to their unprofitability could have been saved if prices for coal were equal to those on global markets.

He emphasized that 435 hryvnyas for a ton of coal is a very low price compared to market price of around 600 hryvnyas, adding that such situation among other consequences makes improvement of social protection of coal miners impossible.

Beside that President encouraged state authorities to invite private investors to the industry and as an example of successful changes, gave Krasnoramiyska Zahidna coal mine, where amounts of extracted coal and coal miners’ wages have significantly increased after the mine had been privatized eight years ago.

“We have no choice, we must only move forward… I am assured that only with honest and competitive policy in the industry we can make it strong. I am positive that together we are able to improve the situation”, - said Victor Yushchenko.

After the speech President greeted coal miners with their holiday and presented national awards to workers of the industry.

In response to Victor Yushchenko’s suggestion those present also honored all the Ukrainian coal miners that had been killed by accidents at coalmines with the moment of silence.

Source: Official website of the President of Ukraine