The government has appointed new board members for Hwange Colliery
Company Limited (HCCL) and they have been mandated to turn around the
fortunes of the company by continuously engaging creditors as well as
boosting production capacity.
The five members appointed by government are Mr Winston Chitando, Mr Valentine Vera, Mrs Ntombizodwa Masuku, Engineer Wenceslaus Kutekatekwa and Mrs Muskwe.
Other shareholders will appoint the remaining three board members.
The appointment follows the dissolution of the Jemister Chininga-led board which was in a bad working relationship with the management of the company.
Briefing the media, the Minister of Mines and Mining Development Cde Walter Chidhakwa said negotiations with creditors must continue to build confidence premised on strategy that promotes productivity.
"The government is confident that Hwange Colliery Company has the potential to flourish, hence the green light to convert US$69 million debt into equity as well as giving new mining concessions," said Cde Chidhakwa.
The appointment of new board of directors means the company is moving away from boardroom squabbles that have been affecting productivity within the company.