Companies and individuals owed money by the troubled Hwange Colliery Company will have to wait a little longer on the outcome of the creditors management plan meeting held by the coal miner on the 26th of April.
After months of negotiations, listed coal miner, Hwange Colliery Company Limited (HCCL), has finally held its creditors management plan meeting with a view to coming up with a workable action plan to pay its debt which is around US$180 million.
Addressing journalists in Bulawayo, HCCL Managing Director, Engineer Thomas Makore said he was not at liberty to disclose the finer details of the action plan since the issue is before the courts but was hopeful that the courts will give the nod to the plan expected to turnaround the fortunes of the company.
On workers’ salary arrears, Engineer Makore said the treasury bills they got from the government have made it possible for the company to pay its February and March salaries.
He said they still owe workers millions of dollars in unpaid salaries dating back to previous months.
The mining company which employs in excess of 3000 workers is also pinning its revival hopes on a quick exploitation of its three new coal concessions.
The government granted the company new coal concessions in the western area and east of Lubimbi.