The finalisation of the US$100 million transaction comes at a time the countryâ€™s soleÂ coal producing firmÂ HwangeÂ Colliery Company Limited, is experiencingÂ challengesÂ in accessing long-term funds to recapitaliseÂ operations.
The companyâ€™s Chief Executive Officer, Mr.Â Fred Moyo said in an interview in the capital, the DBSA and the colliery have concluded the US$100 million transaction in a move expected to increase coal production.
â€œWe have completed the transaction and we hope this will restore normal production,â€ said Mr Moyo.
Mr. Moyo said Government as the majority shareholder for the colliery is also assisting in mobilising capital to ensure that Hwange plays an important role in increasing thermal production for electricity supplies within the country.
â€œThe government is also playing its role in ensuring that thermal production is restored to normal capacity,â€ added Mr Moyo.
Apart from the DBSA facility, the colliery is in talks with multilateral financiers onÂ the long-term financial rescue facilities at concessionary rates to purchase new machinery.