Boston, MA -- (SBWIRE) -- 06/24/2014 -- We forecast modest growth Ukraine's mining sector output over our forecast period to 2018. Coal and iron ore will be the main drivers of volume growth. Nevertheless, Ukraine's mining industry value will stagnate over coming years as increases in coal and iron ore output will be counterbalanced by our forecast for a weakening of prices for these commodities. We anticipate Ukraine's mining industry value to grow on average 0.7% y-o-y from USD10.3bn in 2014 to USD10. 6 bn in 2018. The mining sector will decline from contributing 6.3% of GDP in 2014, to 4.6% of GDP in 2018.
Collaboration between Ukraine and China on the renovation and modernisation of coal mines kicked off in 2011, when the USD1bn programme's first project began. Ukraine's Lysychanskvuhillya signed an agreement with research and engineering firm Tyandi for the upgrade of the Melnikov coal mine as a pilot project of the programme. The USD1bn in investment from China is also partly expected to be used for the construction of new mines in Ukraine.
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