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Struggling Hwange Colliery Company management faces chop
01/02/2016 00:00:00
by Anna Chibamu
 
 
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MINES Minister Walter Chidhakwa has warned the Hwange Colliery Company (HCC) management that they could be relieved of their duties if they fail to revive the company in the next three months.

Speaking to reporters in Hwange over the weekend, Chidhakwa said there was no basis for keeping workers who do not turn fortunes of a company around as HCC has been recording losses for a number of years.

The coal miner's losses increased nearly 16 percent to $37 million over the year to December 2014, partly bumped up by non-recurring items which cost the company $13 million.

The company's loss position, excluding non-recurring items was $23,7 million from the $31.6 million posted in the previous year.

“Hwange Colliery management has to perform well if it has to remain employed.

“We cannot pay workers who are not performing to required standards and something has to change before the end of the next three months or else heads will roll,” Chidhakwa said.

He said it was shocking to realise that only 70,000 tonnes of coal were being produced monthly and yet the company can produce more than 300,000 tonnes.

Production volumes were said to be below target due to outdated company’s plant and equipment.

New equipment worth $31, 2 million purchased by Former Board Chairman Farai Mutamangira through a deal Hwange Colliery conducted with an Indian and Belarus firms was reported to be faulty and not performing to expectations.

New Board Chairman Jemister Chininga has since promised to turn around the company’s fortunes saying everything possible is being done to improve on performance.



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