Ukraine's energy ministry mulling over creation of National Coal Company in Nov

"The [draft] bylaws of the National Coal Company will be submitted [for consideration] at the next Cabinet meeting... I think we will create it within three weeks [after the adoption of the bylaws]," he told reporters on October 25.

The minister forecasts that there will be no unprofitable coal mine in Ukraine next year if a coal industry reform plan, which was earlier approved by the government, has been fulfilled.

Read alsoUkraine's industry copes with aftermath of Donbas trade blockade – Kubiv As UNIAN reported earlier, the Cabinet approved the Strategy for the Development of the Coal Industry in late May 2017. It envisages an increase in coal production at state-owned mines with their transition to non-subsidized operation within one year. The strategy also envisages the creation of a single National Coal Company, which will manage the state-run mines.

In the middle of August, Deputy Prime Minister of Ukraine Volodymyr Kistion said that the National Coal Company would unite 33 state-owned mines. Its creation will save UAH 1.5 billion, or $55.9 million, a year.