HomeBusinessHwange appeals for funding

Hwange appeals for funding

-

HWANGE Colliery Company (HCC) acting managing director Victor Rakaboka has appealed to the government to help secure loans to acquire new equipment and maintain machinery so as to boost coal production.

Nokuthaba Dlamini
Own Correspondent

Rakaboka made the appeal to Energy and Power Development deputy minister Munacho Mutezo last week during a tour of Hwange Power Station, to assess damage on a transformer which had caused the shutting down of two units.

He said HCC does not have sufficient money to pay suppliers, workers and acquisition of new equipment as well as maintenance.

He said the machinery at the colliery had become too old and broke down frequently, affecting the amount of coal produced.

“Sometime in 2013, we were given a loan of $6,74 million by Zimbabwe Power Station and we managed to supply colliery with 150 tonnes, but now because of lack of funding the business is low,” he said.

In response, Mutezo said the government does not have money and HCC should explore ways to recapitalise its mining operations.

Recent Posts

Stories you will enjoy

Recommended reading