27 February 2020News The Ukrainian market of mineral resources is rather stable at first sight. Iron ores and concentrates have been hands-down export winners in extraction for many years. Their share in the general Ukrainian export in 2019 amounts to 6% and stays constant. Ukraine is invariably in TOP 10 countries in iron, manganese, titanium, kaolins and graphite extraction. Ukraine has been taking the 27th or 28th place in cumulative extraction volume according to the general ranking of World Mining Data 2019 for 5 years in a raw. This ranking is compiled annually by International Organizing Committee for World Mining Congresses. So, what makes the Ukrainian mining industry growing? First of all, the fact that mining equipment import volume has grown twice compared to 2018 and amounted to $ 240 M. Moreover, mining equipment supply is three times higher than in 2012, when the cumulative volume of minerals extraction was 1.5 times higher by volume (138 M tonnes compared to 89 M tonnes) and 2.5 times bigger in monetary terms ($ 26 B compared to $ 11 B). Just think, the extraction volume is 1.5 times lower and mining equipment import is 3 times higher! Well, what does it mean? The only logical answer possible is that current subsoil users are planning to increase the extraction volume fundamentally. In order to increase extractive capacity at the existing fields old equipment has to be replaced by new one, which is more effective. The plans of the regulator to place new fields on production are impressive: the amount of fields on www.geo.gov.ua has grown from 60 to 106 for two months of the work of new team of the State Service of Geology and Subsoil of Ukraine. All these fields will be implemented by the system of auctions during 2020. This will increase the number of fields on production by 3%. Do you want to dig deeper? Find more information at https://www.miningworld.com.ua/en-GB/about/otrasl.aspx