HWANGE Colliery Company Limited’s (HCCL) coal output increased by 93% in the year’s first quarter on the back of a roadmap to grow the miner’s market share.
Presenting a trading update for year’s first quarter of the year, HCCL company secretary Crispen Ncube revealed that output increased significantly.
“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 in comparison to 398 728 tonnes in the same period in 2022,” he said.
He added that production volumes of Hwange Coking Coal (HCC) and Hwange Industrial Coal (HIC) increased to 773 771 tonnes in comparison to 259 489 tonnes recorded in the same period in 2022.
Total tonnes sold for the three months increased from 683 896 to 1 064 014 tonnes compared to the same period last year.
HPS sales volumes increased to 414 428 tonnes compared to 360 698 tonnes for the same period in 2022.
HCC and HIC sales volumes increased to 649 585 tonnes compared to 323 198 for the same period last year.
The year-to-date revenue for the 3 months ended 31 March 2023 increased from ZWL 3.3 billion same period last year to ZWL 39,4 billion in historical terms on account of an increase in production and regular product price adjustments in line with market value.
“The company has a thrust in 2023 to grow its 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,” added HCCL. – (New Zimbabwe)