It is reported that a joint Ukrainian-German company was set in Barvinkove district, Kharkiv region to develop Novodmytrivske deposit of brown coal.

The relevant memorandum was signed between the Kharkiv Regional Administration, the National Academy of Sciences of Ukraine and the German company Schmid which in a letter of guarantee stated that it was prepared to fund the project.

This is a tranche of EUR 245 million for beginning the development of the field whose reserves of brown coal make 390 million tons.

(Sourced from www.nrcu.gov.ua)