Hwange Needs $200 Million for Coal Mine, Chronicle Says

Hwange Colliery Co. (HWANGE), Zimbabwe’s biggest coal miner, needs $200 million to recapitalize, the state-controlled Chronicle reported, citing Managing Director Fred Moyo.

The company has spent $15 million rebuilding a coke oven and is in talks with an Indian investor, the Bulawayo-based Chronicle said. Hwange exports coal to India, and plans to ship the commodity and coking coal to neighboring Botswana, Mozambique, Tanzania and the Democratic Republic of Congo, the Chronicle reported.

To contact the reporter on this story: Brian Latham in Johannesburg at blatham@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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