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Hwange sets aside $2 million for coal depot in Zambia

by Staff reporter
09 Jul 2012 at 07:28hrs | Views
HWANGE Colliery has set aside US$2 million for the establishment of a coal depot in Zambia to enhance the supply of its products to the mining industry in the country.

Company corporate affairs advisor Burzil Dube disclosed the development in Ndola on Thursday that there is demand for coal by the mining industry in Zambia.

Mr Dube said the high demand of the commodity has prompted the company to consider setting up a coal depot in Zambia.

He said the firm exports between 200 tonnes to 300 tonnes of coal per month to the mining companies in Zambia.

He said the company was awaiting response on the acquisition of land where the depot will be located.

"Once we are allocated land, we are ready to put up a depot within the course of this year to be located here in Ndola. our budget for the depot is US$2 million," he said.

Mr Dube said this at the just-ended Zambia International Trade Fair (ZITF) in Ndola.

"We want to be closer to our clients as they are mostly concentrated here on the Copperbelt province," he said.

This year's 48th ZITF theme is: "Creating synergies beyond borders."

Mr Dube said Zambia is one of the biggest markets for Hwange Collieries' product which is mostly imported by the mining industry, adding that the company also exports coal to  the Democratic Republic of Congo.

He said the company was exhibiting for the fourth year at the Zambia International Trade Fair.

Mr Dube commended President Sata on his call for Zimbabwean companies to exhibit at this year's trade fair.

"Some Zimbabwean companies are participating for the first time following President Sata's appeal when he officially opened the Zimbabwean International Trade Fair," he said.

Source - zambia daily