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July 31, 2015 6:24 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Hwange Colliery Company Limited

Company Overview

Hwange Colliery Company Limited engages in exploring, mining, processing, and marketing coal, coke, and related by-products. It operates the Hwange Coalfield located in the north-western corner of Zimbabwe, as well as the Chaba Mine. The company distributes its products in Zimbabwe and other areas in Sub Saharan Africa. Hwange Colliery Company Limited is based in Harare, Zimbabwe.

Coal House

7th Floor

17 Nelson Mandela Avenue

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 Company Limited Announces Audited Earnings and Operating Results for the Year Ended December 31, 2014

Hwange Colliery Company Limited announced audited earnings and operating results for the year ended December 31, 2014. For the year, the company reported revenue was USD 72,031,451 against USD 71,540,667 a year ago. Operating loss before interest and tax was USD 51,540,220 against USD 40,375,715 a year ago. Loss before tax was USD 55,692,907 against USD 44,722,807 a year ago. Loss for the year was USD 37,193,061 against USD 31,614,027 a year ago. Attributable loss per diluted share was USD 0.20 against USD 0.17 a year ago. Headline loss per share - diluted was USD 0.19 against USD 0.17 a year ago. Net cash flows generated from operating activities was USD 14,218,761 against USD 28,459,785 a year ago. Acquisition of property, plant and equipment was USD 346,840 against USD 22,993,932 a year ago. For the year, the company reported HPS coal was 996,200 metric tonnes against 924,659 metric tonnes a year ago. HCC/HIC coal was 439,909 metric tonnes against 393,408 metric tonnes a year ago. Coal fines was 242,802 metric tonnes against 201,610 metric tonnes a year ago. Total coal was 1,678,911 metric tonnes against 1,519,677 a year ago. Coke (Incl breeze) was 13,070 metric tonnes against 82,510 metric tonnes a year ago. Total operating results was 1,691,981 metric tonnes against 1,602,187 metric tonnes a year ago.

Hwange Colliery Company Limited, Annual General Meeting, Jun 30, 2015

Hwange Colliery Company Limited, Annual General Meeting, Jun 30, 2015., at 14:00 Indian Standard Time. Location: the Board room, 7th Floor Coal House. Agenda: To receive and consider the audited accounts and the reports of the Directors and of the auditors for the year ended 31 December 2014; to consider the re-election of Directors; to approve the Directors fees for the year ended 31 December 2014; to approve the remuneration of the auditors for the year ended 31 December 2014; to elect auditors of the Company, Grant Thornton Chartered Accountants (Zimbabwe) for the ensuing year; and to transact such other business as may be transacted at an Annual General Meeting.

Hwange Colliery In Talks With Glencore To Sell Assets

Hwange Colliery Company Limited (ZMSE:HCCL) is in talks to sell its assets. The company said that is in talks with Glencore Plc (LSE:GLEN) to sell its coal and coke products. Hwange's Managing Director, Thomas Makore said, “We are talking to Glencore, they are interested in our coal and other coke products. For now, I can't disclose the quantities which Glencore wants or the cost due to confidentiality.”

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