Zim importing coal

HARARE - Zimbabwe is importing coal from Mozambique for tobacco curing, Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has said.

Speaking at the tour of Feruka in Mutare organised by Verify Engineering, Mangudya said the country has been forced to import because Hwange is not producing.

Hwange, in which Zimbabwe’s government is the biggest shareholder with 37 percent shares, is the nation’s second largest coal producer and supplies coke to national electricity company Zesa Holdings.

“I was asked by the ambassador here that are we importing coal and I said ‘yes, we are importing coal from Mozambique,Tete, for curing of our tobacco’. Why? Because Hwange is not producing, but not that there is no coal in reserves, the coal is there, and please universities help us.”

Hwange mines coal in the northwest of Zimbabwe on some of the southern African country’s richest coal deposits.

In January, Hwange Colliery gave a cautionary statement regarding its debt management plan.

The coal supplier, listed on the JSE, had nearly $13m of debt due in the next 12 months and $17m in longer-term loans.

The 2016 interim results to end-June showed the company had current liabilities of $311m, of which $256m was under trade and other payables; against current assets of $61m, of which just $360 000 was cash.

Comments (3)

I think the importation of coal by Zimbabwe is a serious indictment on us as a nation. This calls for a more serious indaba on how we run the economy. Economic development should take centre stage ahead of all socio-economic debates. We are naturally endowed with large quantities of high quality coal in this country. Special grants were signed by the highest office in the land. Any person/board/institution wasting away the opportunity of extracting this mineral MUST LOSE the special grant/s as a matter of urgency. I am actually pained by this situation at Hwange Colliary.

Observer Munyika - 5 April 2017

When Anglo American was the majority shareholder in Hwange Colliery it produced 5 million tons of coal per annum. It also paid income taxes and dividends to shareholders. Today it is majority owned by Zim Govt and produces no coal - similar to Zisco in Redcliife - pamberi ne ZANUPF - they will break everything they touch

nelson - 6 April 2017

so true they can't run anything Bloody useless the load of them

Young Zimbo - 6 April 2017

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