April 22, 2018 7:52 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Hwange Colliery Company Limited

Company Overview

Hwange Colliery Company Limited engages in the extraction, processing, and distribution of coal, coke, and coal 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. The company also provides healthcare services; and properties rental services, as well as sells retail goods and services. 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 Company Limited Announces Audited Earnings Results for the Year Ended December 31, 2017

Hwange Colliery Company Limited announced audited earnings results for the year ended December 31, 2017. For the year, the company reported revenue was $54,497,858 compared to $39,911,465 a year ago. Operating loss before interest and tax was $30,712,608 compared to $86,551,623 a year ago. Loss before tax was $43,837,740 compared to $89,909,990 a year ago. Loss for the year was $43,837,740 compared to $89,909,990 a year ago. Basic and diluted loss per share was $0.24 compared to $0.49 a year ago. Basic and diluted head line loss per share was $0.20 compared to $0.48 a year ago. Net cash flows utilized in operating activities was $247,882,860 compared to $41,118,704 a year ago. Acquisitions of property plant and equipment were $1,707,063 compared to $68,642 a year ago.

Hwange Colliery Company Limited Announces Unaudited Earnings Results for the Six Months Ended June 30, 2017; Provides Earnings Guidance for the Second Half of 2017

Hwange Colliery Company Limited announced unaudited earnings results for the six months ended June 30, 2017. For the six months, the company reported revenue of was $18,814,733 compared to the $24,481,645 a year ago. This represented a 23% decline and was caused by low sales volumes as a result of low production volumes for the period January to April 2017. Operating loss was $16,300,402 compared to $25,867,787 for the comparative period last year. Loss before tax was $24,562,821 against $28,486,569 a year ago. Loss for the period was $24,562,821 against $28,486,569 a year ago. Headline loss per basic and diluted loss per share was $0.13 against $0.16 a year ago. Headline loss per Basic and diluted share was $0.13 against $0.16 a year ago. Net cash utilised in operations was $49,973,812 against $171,193 a year ago. Purchase of property was $77,120 against $13,443 a year ago. The effect of the turnaround strategy will continue to increase gradually during the second period of 2017 which is expected to generate a net profit for the period.

Hwange Colliery Company Limited, Annual General Meeting, Jun 30, 2017

Hwange Colliery Company Limited, Annual General Meeting, Jun 30, 2017, at 08:30 Coordinated Universal Time. Location: Chapman Golf Club Number 1 Henry Chapman, Eastlea Harare Zimbabwe Agenda: To receive and consider the audited accounts and the reports of the directors and of the auditors for the year ended December 31, 2016; to approve the re-election of directors; to approve the directors' fees for the year ended December 31, 2016; to approve the remuneration of the auditors for the year ended December 31, 2016 and to re-appoint Messrs Grant Thornton Chartered Accountants (Zimbabwe) as auditors until the conclusion of the next Annual General Meeting; to propose amendment of Articles of Association for Borrowing Powers, Dematerialization of Securities and Electronic Communication; and To transact such other business as may be transacted at an annual general meeting.

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