Hwange Colliery awards $260 million contract to Portuguese firm

via Hwange Colliery awards $260 million contract to Portuguese firm | The Source  January 8, 2014 

Portuguese conglomerate, Mota-Engil has secured a mining contract with Hwange Colliery Company Limited (HCCL) worth $260 million, the company announced on Wednesday.

The five-year contract, which commences this month, includes drilling works,detonation, load and transportation of coal at the Colliery.

Mota-Engil said the Hwange deal was in accordance with its strategy to expand its activity in international markets.
In addition, Mota-Engil said it was recently awarded contracts in Mozambique and Angola worth $256 million and $ 102 million respectively.

HCC put out a tender last October for mining services at its Chaba opencast mine citing its equipment that has become obsolete and too expensive to maintain.

Its major shareholder, the government, is still considering a $50 million rescue package offered to the colliery company by shareholder and businessman, Nicholas van Hoogstraten.

The miner owes workers over $14 million and has a debt of $160 million.