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Hwange Colliery set to boost production

13 Oct, 2019 - 00:10 0 Views
Hwange Colliery set to boost production

The Sunday News

ZIMBABWE Stock Exchange-listed paramount coal mining concern, Hwange Colliery Company is set to boost production volumes in the second half of 2019 through increased funding to core mining business.

Dwindling production in the first three months of the second half was reportedly attributed to antiquated equipment and capital constraints as non-mining costs gobbled significant amounts. Non-core activities include road maintenance, electrical power distribution and sewage treatment.

But going forward a “low cost high productivity” strategy will be employed to effect revenue growth.

ALL SHARE 

The All Share index ended the week on a lower note after losing 1.77 points 0,76 percent to close at 231.53 points. Cement maker PPC retreated further by $0,1797 to close at $3,3636, Old Mutual Limited eased $0,0926 to $33,9074 and Econet traded $0,0396 lower at $1,7475. OK Zimbabwe also eased $0,0396 to $0,6122 and Cassava Smartech was $0,0331 weaker at $1,5474. 

Losses were offset by gains in TSL which added $0,0500 to $0,7500, Meikles gained $0,0138 to close at $1,5800 and Padenga rose by $0,0109 to $2,9100. ZPI and FBC Holdings both increased by $0,0050 to settle at $0,0350 and $0,6150 respectively.

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