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Ferrexpo decarbonization plans. The firm which controls Poltava Mining and Yeristovo Mining has announced that it is working with Ricardo Plc as part of its decarbonization plans by 2050. “The Group undertakes a commitment to achieve net-zero carbon emissions from its operations by the year 2050,” announced Ferrexpo. In addition to decarbonization, the group will undertake an initial commitment to achieve a minimum of a 30% reduction in combined Scope 1 and 2 emissions by 2030.
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Nikopol Ferroalloy Plant increased production by 25.2%. In the period January to September, Nikopol increased production by 25.2% compared to the same period last year. The volume was 508,810 tons. Over the nine months the plant increased production of silicon manganese by 25.1%, to 470,930 tons, and ferromanganese by 25.9%, to 37,880 tons. In September, 61,000 tons of ferroalloys were produced.
Due to high electricity prices, Nikopol Ferroalloys has shut down five furnaces. Nikopol Ferroalloy Plant announced that the decrease in demand for ferroalloys and substantial rise in electricity tariffs since the beginning of October this year was behind its decision.
Ukraine’s leading coal and power producer DTEK Energy (DTEKUA) mined 12.31 mmt of ROM coal in 9M21, Concorde Capital calculated based on sector-wide data provided by Energy Ministry. This is 13.1% less y/y and 3.8% less y/y on a like-to-like basis (adjusting for the mine that DTEK discontinued operating). Recall, in January, DTEK Energy terminated a long-term lease agreement regarding Dobropillia Coal and transferred all its assets under government control. In September alone, the company produced 1.33 mmt of ROM coal, which is 11.9% more than in August (on daily average basis) and 25.1% less y/y (11.5% less y/y on like-to-like basis). DTEK Energy reported on October 5 that its annual plan is for mining of 17 mmt of ROM coal. To achieve this result, the company is planning to launch eight new longwalls at its mines. It commissioned 22 new longwalls in 9M21, including one in September.
Akhmetov's new coal company earned a profit of ₴1.91bn ($72.62mn).
Ukraine's largest producer of coking coal, the Pokrovske Mine Management, which was purchased by the Metinvest Group in March 2021, earned a net profit of ₴1.91bn in January-September this year. According to the company's interim reports, the Pokrovske Mine Management increased its net income by 95.4% to ₴10.51bn ($399mn) in 9 months. The outstanding loss of the company at the end of September this year amounted to ₴2.06bn.
9.2.12 Other sector corporate news
Ukroboronprom increased production by 27%. The volume of products produced by Ukroboronprom enterprises in the first nine months of this year exceeded the first three quarters of 2020 by 27.4%. It is noted that in September the firms’ enterprises produced 21% more products than planned. The largest increase - 52% was in aircraft construction and aircraft repair, in second place - high-precision weapons with more than 40% growth compared to last year
83 UKRAINE Country Report November 2021 www.intellinews.com