[miningmx.com] – ZIMBABWE coal producer, Hwange Colliery Company (HCC), said it was investigating a rights issue and private placement of its shares in order to convert government debt into equity.
“This matter would be brought to an extra ordinary general meeting for shareholders`
approval in due course,” the company said in commentary to its interim results ended June 30 in which its taxed loss deepened year-on-year to $15.6m from $7.9m in 2014.
HCC also said that it was seeking to diversify the markets for coal and coke products in the regional markets of South Africa, Zambia and the Democratic Republic of Congo during the second half of its financial year.
