Zim importing coal

Zim importing coal

Source: Zim importing coal – DailyNews Live

Blessings Mashaya      5 April 2017

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.

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COMMENTS

WORDPRESS: 2
  • comment-avatar
    Jim Bean 6 months

    Surely it is time for a government to give up and admit they have failed, when it becomes necessary to import one of the most important commodities, that you have ABUNDANT supplies of.
    And, what a waste of MORE foreign currency…

    Is there no end to your governments incompetence ?

  • comment-avatar
    SteelBalls 6 months

    Ian Smith was better than Mugabbage