August 24, 2016 7:56 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Hwange Colliery Company Limited

Company Overview

Hwange Colliery Company Limited explores for, mines, processes, and markets coal, coke, and related by-products in Zimbabwe and Sub Saharan Africa. It operates the Hwange Coalfield located in the north-western corner of Zimbabwe, as well as the Chaba Mine. Hwange Colliery Company Limited is based in Harare, Zimbabwe.

Coal House

7th Floor

17 Nelson Mandela Avenue

PO Box 2870

Harare,  

Zimbabwe

Key Executives for Hwange Colliery Company Limited

Hwange Colliery Company Limited does not have any Key Executives recorded.

Hwange Colliery Company Limited Key Developments

HWANGE Colliery to Cut 1,500 Jobs

HWANGE Colliery planned to cut 1,500 jobs this year to make it more viable and had put measures in place to protect it from lawsuits. Hwange's labour force is 3,000 and about 1,500 are going to be laid off to make the company remain viable.

Hwange Colliery Company Limited Announces Board Changes

Hwange Colliery Company Limited announced the stepping down of Mr. Jemister Chininga as acting Board Chairman on 13 May 2016 and the stepping down of Messrs Shingirayi Norman Chibanguza and Ian Chamunorwa Haruperi as Non-Executive Directors effective 29 February 2016. Following the stepping down of Mr. Jemister Chininga as acting Board chairman on 13 May 2016, Hwange Colliery Company Limited announced the appointment of Mr. Winston Chitando as the new board Chairman effective 19 May 2016. The company announce the appointment of Mr. Wenceslaus Tarugarira Kutekwatekwa as a Non-Executive Director of the company effective 19 May 2016. Wence is a former member of the Board for the Zimbabwe School of Mines, past president of the Association of Mine Managers of Zimbabwe, past chairman of the Southern African Institute of Mining and Metallurgy, past chairman of the SHE Committee of the Chamber of Mines, past chairman of Mine Rescue Association of Zimbabwe and past board chairman for the Project Management Institute of Zimbabwe. He is member of the Institute of Directors and a Fellow of the Southern African Institute of Mining and Metallurgy. The company announced the appointment of Mrs,. Ntombizodwa Masuku as a Non-Executive Director of the company effective 19 May 2016. Ntombizodwa was appointed to the Zimbabwe Mining Development Corporation Board for the period December 2012 to December 2013.

Hwange Colliery Company Limited Announces Audited Earnings and Operating Results for the Year Ended December 31, 2015

Hwange Colliery Company Limited announced audited earnings and operating results for the year ended December 31, 2015. For the year, the company reported revenue of USD 67,576,220 against USD 83,918,846 a year ago. Operating loss before interest and tax was USD 99,727,098 against USD 51,540,220 a year ago. Loss before tax was USD 105,689,216 against USD 56,365,731 a year ago. Loss for the year was USD 115,056,773 against USD 37,865,885 a year ago. Attributable loss per basic and diluted share was USD 0.63 against USD 0.21 a year ago. Headline loss per share – basic and diluted was USD 0.61 against USD 0.19 a year ago. Net cash flows used in operating activities was USD 2,152,866 against net cash flows generated from operating activities of USD 14,218,762 a year ago. Acquisition of property, plant and equipment was USD 30,804,938 against USD 346,840 a year ago. Revenue was affected by low production and sales volumes, the stagnant HPS coal prices and the decline in the HIC/HCC coal and coke prices for both local and export markets. For the year, the company reported HPS coal of 887,273 metric tonnes against 871,632 metric tonnes a year ago. HCC/HIC coal was 503,706 metric tonnes against 459,325 metric tonnes a year ago. Coal fines were 113,421 metric tonnes against 375,841 metric tonnes a year ago. Total coal was 1,504,400 metric tonnes against 1,706,798 a year ago. Coke (Incl breeze) was 53,874 metric tonnes against 79,708 metric tonnes a year ago.

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