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Home Coal Demand

More than 53% of Russian coal companies turn loss-making in 2024

Editor by Editor
3 months ago
Reading Time: 1 min read
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Losses of Russian coal companies in 2024 amounted to 1.14 bln USD compared to a profit of 3.78 billion USD a year earlier. The share of loss-making companies reached 53.3% against 31.5% in the same period last year.

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In 2023, profits of Russian coal companies decreased 2.1 times to 3.78 bln USD (-4.30 bln USD y-o-y). However, in 2024, the negative dynamics intensified due to falling prices on the global market and a sharp increase in production costs.

Losses-of-Russian-coal-miners-2024

Additional factors that still have a negative impact on coal miners’ financial results are high railroad tariffs, limited transportation capacity of railroad infrastructure, and Western sanctions.

For many Russian suppliers, the current level of international prices and production costs make coal exports loss-making, forcing them to reduce output and abandon new coal deposit development projects.

With the new U.S. restrictions, the sanctions now cover more than 50% of export volume, leading to an even greater decline in Russian coal exports in 2025.

Coal output in Kuzbass, the main coal mining region of Russia, where high-quality material is produced, fell to 198.6 mio t in 2024 (-15.2 mio t or -7.1% y-o-y). Total exports of Russian coal dropped to 195.0 mio t (-17.1 mio t or -8.1% y-o-y).

Source: CCA Analysis


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