October 21, 2016 5:46 PM 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



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 consolidated Unaudited Earnings Results for the Six Months Ended June 30, 2016

Hwange Colliery Company Limited announced consolidated unaudited earnings results for the six months ended June 30, 2016. For the six months, the company reported revenue of was $24.5 million compared to the $35.3 million a year ago. Operating loss was $25.9 million compared to an operating loss of $48.0 million for the comparative period last year. Loss before tax was $28, 486,182 against $49,219,563 a year ago. Loss after taxation of $22.7 million compared to the $44.1 million loss recorded for the same period in 2015. Loss for the period was $28,486,182 against $44,106,145 a year ago. Net cash utilized in operating activities was $171,193 against $265,257 a year ago. Purchase of property, plant and equipment was $13,443 against $30,804,938 a year ago. Basic and diluted loss per share was $0.16 against $0.26 a year ago.

HWANGE Colliery to Cut 1,500 Jobs

HWANGE Colliery planned to cut 1,500 jobs in 2016 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.

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