Hwange, in which Zimbabwe’s government is the biggest shareholder with a 37 percent stake, is the nation’s second-largest coal producer and supplies coke to state-owned electricity generating firm Zimbabwe Power Company.
Fred Moyo, the deputy minister in the mines ministry, told parliament on Wednesday that Hwange, which has been making losses for more than a decade, would cut overheads, trim its workforce and has set a meeting with creditors next month.
The firm should have 2,000 employees, the official parliament record, Hansard, quoted Moyo as saying on Wednesday.
Moyo did not say when the job cuts would be effected.
Hwange produces 150,000 tonnes of coal a month and Moyo said the company was working to double the output by end of year.(Reuters)