The Sunday News
HWANGE Colliery Company managing director, Mr Thomas Makore, has appealed for a collective effort in the resuscitation of the organisation’s fortunes by ensuring that coal production doubles from about two million tonnes to four million tonnes by year-end.
Addressing the company’s middle managers and worker representatives last week, Mr Makore added that his main priority was also to come up with a salary payment plan that would be effective before the end of the year.
“However, all this hinges on securing working capital that is planned to procure new spares and equipment so that production volumes are increased significantly.
“This will enable us to come up with a sustainable payment plan as we seek to restore the company’s viability and this calls for collective effort from top to bottom,” said Mr Makore who joined the colliery in June this year.
The working capital would be channelled towards the repair of opencast, underground and coal processing equipment.
He added that the coming on board of Mota-Engil; one of the leading mining contractors, would result in additional tonnage being produced to meet the four million tonnes target, among other strategic issues.
Some of the strategic issues which he said needed to be tackled include balance sheet restructuring, management of liabilities, growth of domestic market share, penetration of offshore markets and employee performance management through the balanced score card system.
He said engagement with Government for additional coal concessions through the relevant ministry would also be intensified and prioritised as the company continued to turn around its fortunes.
