Victor Nusenkis - Coking Coal

Net Worth: $570 million

Age: 55

Marital status: Married, one son

Last year: $3.3 billion

Industry: Coal mining, metallurgy

Viktor Nusenkis, the owner of Donetsksteel Metallurgical Works, has his fingers in Ukraine’s fattest pies – metallurgical works and leading coal mines in Ukraine and Russia. Despite the crisis, he expanded his business empire in March 2009. In Donetsk Region he leased 9.54 hectares of land for 50 years to build a processing plant. He intends to process coking coal, and if the business pans out, he’ll make a fair sum. First, scarce raw materials are getting more expensive by the year. In April the government fixed a weight average price for a ton of coking coal – UAH850, which is 2.5 times greater than previous tariffs. Second, the Cabinet of Ministers announced in March 2009 that it intended to limit imports of coking coal. These factors are more than enough for Nusenkis to build himself a bright future on the extraction and processing of coke.

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