Van Hoogstraten in Hwange coal mine bid

via Van Hoogstraten in Hwange coal mine bid | SW Radio Africa by Tichaona Sibanda on Friday, October 25, 2013  

Controversial British businessman Nicholas van Hoogstraten has made a takeover bid for the struggling Hwange Colliery Company Limited.

Van Hoogstraten and his family already have a 30 percent shareholding in the company, but the multi-millionaire businessman tabled a $50 million bailout package and has reportedly demanded a raft of reforms which will give him control over management of the company.

Government is the single largest shareholder in Hwange. The board chairman of Hwange, Farai Mutamangira, said he is still studying the offer.

The weekly Financial Gazette reported on Thursday that the company is operating against a debt of $160 million and owes its workers $14 million.

The workers have not been paid for six months now. Three weeks ago, over 100 wives of the colliery workers were brutalized by police, leaving several of them injured in running battles, when they staged a peaceful demonstration against the management.

In August its 3,000 strong workforce downed tools complaining at the non-payment of their salaries.

A worker at the colliery told SW Radio Africa on Friday that while the workforce is back at work, negotiations over their salaries were ongoing. Simelebona Nyoni, the district chairman of the Zimbabwe Congress of Trade Unions in Hwange, also confirmed that the workers had gone back to work but are reportedly on a go slow.

‘We have tried to mediate in the negotiations between the workers and management because the ripple effects of the stalemate affect the whole of the Hwange town and the surrounding communities,’ Nyoni said.

Nyoni added that of major concern to the company is its inability to operate at full capacity when other rival coal mining companies in Hwange were operating at full capacity and doing very well. Hwange Colliery has been plagued by reports of corruption and chronic mismanagement for years.

 

COMMENTS

WORDPRESS: 8
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    ZimJim 7 years ago

    Nick v H.., even his name is not on the level. Bob’s banker, and not a nice guy. Birds of a feather…

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    Tony Pajamas 7 years ago

    Hope he wakes up to find a horses head in his bed!!!!!

    Justice!!!

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    Clement Madlela 7 years ago

    The only difference between Cecil John Rhodes and Van Hoogstraten is that he is Bob (the owner of Zimbabwe)’s friend.Indegenisation ! My foot what a load of rubbish !Van is British and nothing will ever change him to be Zimbabwean.It takes the indoctrinated to believe such hypocracy.I would rather be a dissident !

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    Show me who your friends are and I will tell you who you are. That ancient saying from the Greek philosophers says if all. This guy and Mugabe friends, you do not have to say another word. As for the ZhingZhongs no better.

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    When the big changing revolution comes soon this serial pedophile and pornographer will join his zanoid at the snake pit at our new chikurubi. Anyway these criminals and their benefitting relatives will lose every every asset they stole here in mugabeland and worldwide. We will reenact the zanu law “specifying persons and companiea” as “enemies of the state” like done to mawere masiiya white commercial farmers ngos etc. We will use the carried over law and order regs to punish van hoogstraten etc etc

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    This man is pure evil, checkout his chequered life in the UK before he came to Lord it up over the Zim Peasantry!

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