In 2024, the coal industry became the only unprofitable one in Russia

28.10.2024       

The fall in global coal prices and fiscal seizures have led to losses of 34 billion rubles in the coal industry this year, according to calculations by the AC TEK. Against this background, the Ministry of Energy is discussing a list of anti-crisis measures, including the conclusion of new agreements on coal exports and discounts on tariffs for Russian Railways. Experts note that market participants are forced to increase investment in such conditions due to the complication of equipment supply chains due to sanctions.
The coal industry is on the verge of bankruptcy amid falling prices, according to an October presentation by the AC TEK (Kommersant has a copy). According to analysts, in 2024 the industry will become the only unprofitable one in the Russian Federation. The loss before tax is estimated at RUB 34 billion against RUB 783 billion and RUB 357 billion in profit in 2022 and 2023. Kommersant