Putin orders measures to support coal industry ASAP
MOSCOW. Dec 12 (Interfax) - President Vladimir Putin has issued orders to work out measures to support the country's coal industry as quickly as possible, Energy Minister Sergei Tsivilev said after a meeting the president held with the government.
"Based on the results of the review, instructions were given to work out measures to support the coal sector as soon as possible," Tsivilev said.
The second issue discussed was the program for the social and economic development of the Kuznetsk Basin and its extension to 2030. It will be revised and approved as soon as possible, Tsivilev said.
Coal production in Russia slumped 1.7% year-on-year to 347 million tonnes in the first ten months of 2024. Russian coal companies had a combined net loss of 91.3 billion rubles in the first nine months of 2024, compared to a profit of 380.4 billion rubles a year earlier, the Federal Statistics Service reported earlier.
The government decided in early May to lift export duties on thermal coal and anthracite for the period from May 1 to August 31, 2024 in order to help coal companies. The suspension of the duties was extended until December in late August, and in November it was extended to the end of 2024. The duty on coking coal was also lifted as of December.
The duties on anthracite and coking and thermal coal will lapse as of January 1, 2025.
The government earlier also determined the conditions for exempting brown coal from export duties. The duties on this type of coal will not apply if the average export price for it does not exceed $63 per tonne in a calendar month.
Earlier in the fall, the Energy Ministry also said it was important that agreements between Russian Railways (RZD) and coal mining regions to ship coal eastward be signed for 2025 with all regions that had such agreements for this year. It also proposed drawing up new agreements for the Northwest and South, and reinstating reduction coefficients and discounts for shipping coal westward to stimulate shipments to ports in northwestern and southern Russia.
