92.73% Increase in Coal Mined by HWANGE COLLIERY: Trading Update for the Three Months Ended 31 March 2023

Published On: June 27, 2023Company: Hwange Colliery Company Limited (HCCL.zw)
What is the Company's plan to grow its market share of coking coal sales in neighbouring countries?
The Company's plan is to develop dedicated solutions for the delivery of coking coal and coke products in the region. Advanced plans to this effect are underway.

Trading Update for the Three Months Ended 31 March 2023

  • HCCL remains under administration in terms of the Reconstruction of State-Indebted Companies Act [Chapter 24:27] of Zimbabwe and its listing on the Zimbabwe Stock Exchange is still suspended.
  • The operating economic environment for the quarter under review was stable.
  • Total coal mined for the year-to-date increased by 92.73% compared to the same period last year.
  • Production volumes of Hwange Power Station (HPS) coal increased to 494 820 tonnes.
  • Production volumes of Hwange Coking Coal (HCC) and Hwange Industrial Coal (HIC) increased to 773 771 tonnes.
  • Total tonnes sold for the 3 months increased to 1 064 014 tonnes compared to the same period last year.
  • HPS, HCC, and HIC sales volumes increased for the quarter.

Financial Performance for the Three Months Ended 31 March 2023

  • Year-to-date revenue for the 3 months ended 31 March 2023 increased from ZWL 3.3 billion to ZWL 39.4 billion.
  • Revenue growth due to an increase in production and regular product price adjustments.

Outlook

  • Thrust in 2023 to grow market share of coking coal sales in neighbouring countries.
  • Advanced plans to develop dedicated solutions for the delivery of coking coal and coke products in the region are underway.

Useful links

About Hwange Colliery Company Limited (HCCL.zw)

Hwange Colliery Company Limited extracts, processes and distributes raw coal and coal products in Zimbabwe and sub-Saharan Africa. The Hwange Coalfield and Chaba Mine are located in the north-western region of Zimbabwe; its head office is in the capital city, Harare. Hwange Colliery operates in three segments; mining, medical services and estate management. The Mining division operates in categories that include thermal coal, industrial coal and coking coal. The coke categories include foundry coke, metallurgical coke, coke peas and coke breeze. The by-products include benzole, tar naphthalene and coke oven gas. The Medical Services division manages a healthcare service for its employees and local communities in the mining areas. The estate management division provides and manages properties for rental and sells retail goods and services. Hwange Colliery Company Limited is listed on the Zimbabwe Stock Exchange

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