Chitando appoints new Hwange Colliery board

MINES and Mining Development minister Winston Chitando has appointed a new board for Hwange Colliery Company Limited (HCCL), whose task is to turn around the coal miner’s fortunes.

BY MTHANDAZO NYONI

The new board members were Allan Mashingaidze, Anna Kunda, Flora Ngwenya, Edward Mazoredze, Roger Williams and Valentine Vera.

Chitando said the board would soon appoint its chairperson.

“The board will meet and then appoint the chairperson. The chairperson is not being appointed by shareholders, but by the board,” he said.

Government is the largest single shareholder in the company, while businessman Nicholas van Hoogstraten also holds a significant stake in the mining concern.

The announcement came at a time the company was in the process of implementing a strategic document aimed at getting into a phase of positive cash generation.

In the short term, the company is expected to produce about

50 000 tonnes of coking coal, whose revenues would come to the aid of HCCL operations.

Recently, Hwange announced it would sell off some of its real estate assets.

The property includes houses that accommodated former and current employees.

Source :

Newsday

Check Also

Zim Scores Highly On Reforms

Zimbabwe is ranked among the top five African reformers, hitting the top spot as the …

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This function has been disabled for Zimbabwe Today.