Russia Plans $800M Aid Package for Struggling Coal Industry

The ammount itself is not big, but the fact that Russian coal industry is now operating below profit , while in the past it used to pay billions in profit taxes each year to the budget, is stunning

And global coal,prices aren’t even that low yet, at like 110$ per ton( ok, Russia sells coal with like 30-40% discount but still)

Normal breakeven point for thermal coal is like 50$ per tonne, like in Australia and US for open pit mining .

Their coal industry was poised to struggle this decade, war in Ukraine or not ,simply because of lack of automation and technological progress