HWANGE Colliery Company (Hwange) is targeting increased coking coal and coke product sales in the region this year to raise funds to discharge obligations to creditors as well as create a positive balance sheet in the medium term.
The coal miner, which is still under administration, has set aside US$15 million to acquire new underground mining equipment in the next two years to increase coal production to 50 000 tonnes per month in the second half of 2022, then 100 000 tonnes per month in the first half of 2023.
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In a statement accompanying financial results for the year ended December 31, 2021, Hwange acting managing director Blake Mhatiwa said the company was aiming for regional coking e
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