Hwange Colliery : Eyes Regional Markets As Foreign Currency Shortages Persist
The worsening foreign currency shortages in the country have pushed
Presenting a trading update this week, HCCL acting company secretary, Rugare Dhobbie said exports to the six countries will improve the firm's performance.
"We are currently, on an export drive to improve export earnings and the company is targeting regional markets such as
Dhobbie said engagements with key logistical partners such as the
She added; "The operating environment continued to be challenging and has been characterised by high inflation, fuel shortages and shortage of foreign currency.
"The company has obsolete and redundant machinery due to insufficient foreign currency as a result of low retention and low export volumes as well as poor interbank forex availability."
HCCL also bemoaned the impact behind the emergence of the Covid-19 pandemic which has slowed down production due travel restrictions imposed globally.
Dhobbie's trading update comes shortly after the coal miner recorded a loss of
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