The metal sector outspends other industries on environmental costs

Environmental costs in the mining & metals sector grew by 22% in 2019

Environmental costs of mining & metals companies in 2019 increased by 21.5% to $619.061 million against 2018, according to the State Statistics Service.

Ukrainian mining & metals companies traditionally follow the sustainable development principles and actively invest in environmental modernization.

The share of investment made by mining & metals companies in environmental measures in the structure of costs of all economic operators of Ukraine was 36.7%.

Specifically, steel producers spent $282.446 million on environmental protection last year. All other processing companies spent a total of just $170.242 million.

The share of iron ore companies in environmental projects in 2019 was $340.484 million. Other mining companies spent a total of just $15.477 million.

A total of $1.69 billion was spent on environmental protection in 2019 by economic operators of various forms of ownership, industries and areas of activity, 27% up from 2018.

For more details on the trends in and structure of environmental costs of mining & metals companies see GMK Center’s infographics.