Thursday, 01 Sep 2011
Bloomberg cited Mr Viktor Yanukovych President of Ukraine as saying that Ukraine seeks to get USD 1 billion of Chinese investments to develop its coal-mining sector.
He said that agreements have been made with the Asian country to start a joint pilot project to upgrade the Melnykova mine in the Luhansk region.
Mr Yanukovych said Ukraine is actively looking for investments in coal mining as it seeks to increase safety. Coal production should rise by at least 10% a year.
He said that the eastern European country has about 12 trillion cubic meters of coal-bed methane. Coal-bed methane is a type of so-called unconventional natural gas that originates in coal seams and is drained from surface boreholes before mining starts.
sourced Bloomberg
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