Wednesday 29 August 2018

Russian coal production to exceed 420m tonnes this year

Russia plans to increase its coal production to more than 420 million tonnes in 2018.

The nation's Energy Minister Alexander Novak said the country expected to beat the peak achieved during the maximum production level of the Soviet era, recorded in 1988.

From 2012 to 2017, Russian coal production increased by 15.5% to 410 million tonnes.

The government says investment in the industry is likely to reach 130 billion rubles (£1.48bn) per year.

Mr Novak said: "According to our estimates, coal exports from Russia are expected to exceed 200 million tonnes in 2018: about 100 million tonnes to the West and another 100 to the East."

He added exports to Europe would not be substantial due to consumption of the fossil fuel being gradually phased out.