[miningmx.com] – ZIMBABWE coal producer, Hwange Coal Colleries (HCC) would double production to 300,000 tones a month before the year-end as it sought to turn a profit, said BDLive, citing HCC’s MD Thomas Makore.
“With such production and estimated monthly revenues of at least $12m the company will become profitable and its going concern position will be enhanced,” Makore told the firm’s shareholders at a recent annual general meeting.
Production levels will rise when Hwange receives equipment worth $33m from India’s BEML. Additional equipment valued at $18m had been secured from Belaz of Belarus.
Hwange at present generates monthly revenue of $5m against operating costs of $14m, said BDLive.
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