Coal mining giant Hwange Colliery Company is expected to increase its capacity utilisation after the approval of a creditors scheme of arrangement meeting that will result in the company getting lines of credit to finance operations.
The company’s managing director, Mr Thomas Makore told the ZBC News on Friday (today) the financial resources will be channelled to production activities at opencast, underground and metallurgical operations so that production levels increase.
“We are working at our best to see to it that everything is done above board for the benefit of the nation,” he says.
Mr Makore added that the mining company will prioritise adequate supply of coal to the national electricity utility while sustaining itself through delivering coal and coke grades to industry and export markets.
“It is all about ensuring that we operate at viable rates in the future,” says Mr Makore.
The government which is the key shareholder in the coal mining giant has also endorsed a turnaround plan aimed at restoring viability.