Hwange Colliery Company Limited (HCCL) Holdings’ impressive 31% production growth and remarkable financial turnaround have drawn high-level praise from Vice President Dr. Constantino Chiwenga, who hailed its revival as a signature achievement of the Second Republic, Mining Zimbabwe can report.
By Rudairo Mapuranga
The company reported a surge in its half-year output, climbing to over 2.5 million tonnes from 1.9 million tonnes in the same period last year. This significant growth was achieved through internal financing, without any fresh capital injection from the government.
VP Chiwenga, who was in Hwange to assess critical government projects, toured the colliery on Monday and witnessed firsthand the operational resurgence. He expressed profound relief and optimism at the company’s recovery.
“I am quite thrilled, very happy, and very relieved to see Hwange Colliery now on its feet,” he said. “I think everyone in the country had almost lost hope regarding its revival, especially with the terrific speed we have witnessed. The team here, led by Mr. Munashe Shava and CEO Mr. William Gambiza, has done a wonderful job.”
The Vice President highlighted the company’s success in clearing a massive debt burden. From a peak of US$450 million in 2018, which included substantial local and statutory obligations, the firm has now settled all its domestic debts. This financial discipline leaves Hwange Colliery with only external debts to manage, marking a critical step towards long-term stability.
The revival has also had a direct human impact, with the workforce expanding to 500 employees—a dramatic increase from the mere handful employed before the advent of the Second Republic.
This performance aligns with the government’s broader economic strategy, which aims to foster growth by increasing the export of coking coal and ensuring a reliable supply of coal for domestic electricity generation.
With the colliery now on a stable footing, VP Chiwenga challenged management to maintain the momentum. “Hwange is back on its feet, and what we now want to see is the rapid development of the various ideas and strategies they have presented to us,” he concluded, signalling government support for the company’s future plans.
