Hwange Colliery announces Q1 growth despite Covid-19

21 May 2020 (Last Updated May 21st, 2020 12:19)

Hwange Colliery, the Zimbabwean coal miner, has announced a 50% yield increase in the first quarter, despite Covid-19’s “challenging operating environment,” as the firm’s production rose from 1,17,165 tonnes in Q1 2019 to 1,75,849 tonnes in Q1 2020.

Hwange Colliery, the Zimbabwean coal miner, has announced a 50% yield increase in the first quarter, despite Covid-19’s “challenging operating environment,” as the firm’s production rose from 1,17,165 tonnes in Q1 2019 to 1,75,849 tonnes in Q1 2020.

In a trading update for the quarter, the company has said that its revenue improved by 860%, amounting to $219.2m, while gross profit was on a positive growth trajectory, rising by 22% to $22.8m.