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Abstract

Contents

Introduction

Efficient management of fuel and energy complex is the basis for ensuring the energy security of the state. During the period of economic transformation of the fuel and energy complex, coal industry significantly felt the negative effects of sudden changes in the macroeconomic situation and the state of domestic and international fuel markets, which can be attributed to a significant deficit investment resources. For this reason, the role of investment in the control system of the fuel and energy complex, plays an important role. The protracted crisis of the coal industry may be noted the restriction of production, the transition to the extensive development that requires the search for new ways to invest expanded reproduction, modernization, technical re-equipment of mines, increasing the investment attractiveness of the coal enterprises.

1. Theme urgency

Investment problems of coal industry in conditions of global escalation of the crisis in the coal mining industry as a whole become essential for the operation of the coal enterprises, pose the question of their existence as such. The lack of effective self-regulatory system of economic development, a significant loss of economic potential the industry set mine in terms of self-survival, leading to either eliminate most of them, either to fight for the preservation of the capacity gap of the investment attractiveness of the enterprise.

Research the issues of attracting investments in the coal industry and increase the efficiency of coal enterprises engaged in both domestic and foreign scientists, namely: Makogon Y. V., Sally V. I., Starikov,A. P., Kabanov A. I., Trifonova E. V., and others. In DonNTU the study of this problem was studied by authors such as: A. A. Kravchenko, I. K. Demin. Despite the significant number of scientific studies, the question on increase of efficiency of coal enterprises and investment, is still relevant. This led to the choice of theme of master's work, its purpose and objectives.

2. Goal and tasks of the research

The purpose of this diploma is suggestions and recommendations to improving the efficiency of coal-mining enterprise through the expansion of extraction front.

Main tasks of the research:

  1. Expand the concept of investment activity of the enterprise.
  2. To study the main sources of investment resources of coal mines.
  3. To analyze the main problems of improving the efficiency of coal enterprises.
  4. Develop an investment project to increase the production capacity of the enterprise through the expansion of extraction front.
  5. Evaluating the effectiveness of the investment project.

Research object: improving the efficiency of coal-mining companies due to the intensification of industrial activity.

Research subject: raising and substantiation of efficiency of investments to enhance production capacity.
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3. The main problems of increase of efficiency of work of mining enterprises

The term efficient operation of businesses – a category which expresses conformity of the results and costs of the enterprise goals of activities and interests of the owners. That is, the concept of “efficiency” implies comparison of performance with the value of resources expended [1].

A sign of effective activity may be a need to achieve the goals of production and economic activity of the enterprise with the least expenditure of social labor or time. Ultimately, meaningful interpretation of efficiency as an economic category is determined by the law objectively applicable labor savings that are fundamental substance of wealth and the measure of costs required for its accumulation and use the society [2]. That is why the increase of efficiency of activity of the enterprise must be regarded as a particular form of manifestation of the law. The process of formation of the results and the efficiency of production is shown in Figure1 [3] .

Schematic diagram of the formation of results and efficiency

Figure 1 – Schematic diagram of the formation of results and efficiency
(animation: 12 frames, 7 cycles, 33,5 kb)

In terms of restructuring the coal industry and the increasing role of coal in energy balance of the country, attraction of investments is the most relevant and very painful problem to solve, as there is a limit to budget and the reluctance of the absolute majority of commercial banks to Finance projects of coal enterprises. Therefore, excessive wear and tear of production assets and lack of stoping operations, the Central place in the development of coal enterprises, today, is a problem of investment activity[4] .

Currently, it is possible to identify some of the key challenges to improving performance of coal mining enterprises, namely:

  1. Outdated and worn mine fund, which determines its low investment attractiveness for the implementation of an innovative model of modernization and development of the coal industry.
  2. The lack of sources of financing (equity and government funds, grants, borrowing, private investment) how to ensure the functioning of the current and for the development of coal enterprises.
  3. Low competitiveness of domestic coal, due to its high cost and low quality.
  4. Ineffectiveness of the coal industry management system, as there is a constant complication due to significant unjustified reorganizations[5].

Problem solving effective operation of the coal enterprises, it is possible to decide by means of a reorientation of financial flows to a significant increase in the volume of capital investments to support production capacity of existing coal mines, the acceleration of technical re-equipment; eliminate acute shortage of working capital by providing a one-time target of government support, or by preferential government loans and reducing the distraction of own funds of the coal enterprises for capital investments; an increase in the concentration of capital investments on reconstruction of existing coal mines [6] .

Conclusion

Currently, the technical and technological level of enterprises in the coal industry is one of the limiting factors in the development of the coal industry: a large percentage of depreciation of fixed assets, the availability of current parks in the mines pollution control equipment that require complete replacement, a significant amount of capacity processing plants are in operation for many years – all this hinders the process of improving effective operation of coal mines. In recent years there has been a significant reduction in the productive capacity of the industry.

Further development of the economy of our state, possibly subject to a widespread increase of investment activity in fuel and energy complex, the growth of volumes of capital investments in the coal industry, reconstruction and technical re-equipment of existing fixed assets, with advanced development of the production potential of TEK, its material-technical base.

References

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