adminNqobile Tshili Chronicle Correspondent
THE board chairman of Hwange Colliery Company Limited (HCCL) Farai Mutamangira has resigned following a mutual agreement with the Minister of Mines and Mining Development Walter Chidhakwa, HCCL said in a statement yesterday.
“Hwange Colliery Company Limited wishes to advise of the voluntary stepping down of its Board Chairman, Mr Farai Mutamangira after securing an agreement to that effect with the line Minister Honourable Walter Chidhakwa,” read the statement.
HCCL said Mutamangira resigned after a successful stint with the coal mining company. “Mr Mutamangira who had long signalled his intention to step down having successfully spearheaded the raising of more than $70 million capital for HCCL has accepted to be engaged elsewhere, details of which will be advised in due course.”
In his resignation letter, Mutamangira said he was leaving HCCL a happy man after successfully executing his duties.
“I’m very happy to be leaving Hwange as I feel I’ve accomplished more than enough in steering the company towards a turnaround,” wrote Mutamangira.
According to the HCCL, “Some of his notable projects include securing additional coal concessions, divisionalising the company, engaging Mota Engil and stopping haemorrhage and the burdensome cost and contactor structures.”
HCCL said Mutamangira led the successful commissioning of mining equipment worth $32 million acquired from India and Belarus.
“The equipment was financed through facilities provided by PTA Bank and Eximbank of India. The JKL open cast mine, where the equipment was deployed is expected to produce 250,000 tonnes per month from 100,000 tonnes,” reads the statement.
“Overall, the mine expects to increase output to 450,000 tonnes by year end, including production contribution from Mota Engil, a Portuguese company contracted by Hwange.”
Online Reporter