Current financial situation and trends of the mining industry of Ukraine

Abstract

The purpose of this article is to determine the importance of assessing the financial situation of enterprises in order to establish development trends of the mining industry of Ukraine in the current economic environment and to develop proposals on ensuring its sustainability. The article deals with the nature of financial condition of an enterprise and identifies factors affecting it. The article estimates financial conditions of the leading enterprises of the mining industry of Ukraine and analyses factors influencing its development, in particular, states that the prospect of mining industry is predetermined by the prospect of metallurgical production. Also, a factor of stable economic activity of domestic iron ore mining enterprises is the exercising of raw iron ore exports and receiving a monetary income. The article shows the main problems of the industry, such as volatility in market prices of iron ore, which is caused by unstable economic situation in the world, depreciation of fixed assets of enterprises, and also suggests some proposals on ensuring sustainable development of the mining industry of Ukraine in the current economic environment.