ZIMBABWE Power Company has given struggling Hwange Colliery a $6,7 million credit facility to buy mining equipment, an official said on Wednesday.
Hwange supplies coal for the ZPC’s thermal power plants, and the loan provided the mine with welcome capital after struggling to keep afloat in recent months.
“Our relationship with ZPC is very good and we count on them. It has funded purchasing of equipment to the tune of $6,74 million,” operations manager, Victor Rakabopa told the Energy and Power Development deputy minister, Munashe Mutezo who toured the mine on Wednesday. He did not say when the mine received the loan or its tenure.
But Rakabopa said the mine had purchased equipment from Sun China worth $400 000 and would refurbish its three main underground plant with part of the money. — The Source