Legacy debts weigh on Hwange Colliery

COAL miner Hwange Colliery Company’s (Hwange) inflation adjusted profit was down by 74 percent to $1,6 billion during the year to December 31, 2020, weighed down by an exchange loss of $1,4 billion on legacy foreign creditors. The company’s revenue, however, increased by 13 percent to $4,47 billion. “This was due to a combination of…

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