Monday, June 25, 2018

Chitando appoints new Hwange Colliery board

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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.