Hwange Colliery property goes under the hammer to pay-off Chinese loan


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Mining equipment worth thousands of dollars belonging to the struggling coal miner Hwange Colliery Company (HCC) is set to go under the hammer on Tuesday next week over unpaid debts to a Chinese company.

Last month, some of the miner’s equipment was sold off to settle long standing debts.

In a notice today, Hwange District Deputy Sheriff said it would be selling the company’s movable assets at a public auction to be held at Dick Village St Marys in Hwange on Tuesday.

Mining equipment to be auctioned in a case pitying HCC with Zimbabwe Zhongxin Company Pvt Ltd, include two one-tonne forklifts, two 20-tonne Tipper trucks, excavators, two lonking front end loaders, a Granvia minibus, six 1-tonner 3-wheeled dumpers, six 1-tonner 4-wheeled dumpers, two Penco compressors, Kipor ultra silent diesel generator, three cast iron valves, 10 aluminium valves, five small pumps with motors, five big pumps, electric winch machine and cock stock pie.

Hwange is facing litigation for claims amounting to $20.6 million while cases worth $20.1 million have been awarded against it.-The Source

Hwange Colliery property goes under the hammer to pay-off Chinese loan

Mining equipment worth thousands of dollars belonging to the struggling coal miner Hwange Colliery Company (HCC) is set to go under the hammer on Tuesday next week over unpaid debts to a Chinese company.

Last month, some of the miner’s equipment was sold off to settle long standing debts.

In a notice today, Hwange District Deputy Sheriff said it would be selling the company’s movable assets at a public auction to be held at Dick Village St Marys in Hwange on Tuesday.

Mining equipment to be auctioned in a case pitying HCC with Zimbabwe Zhongxin Company Pvt Ltd, include two one-tonne forklifts, two 20-tonne Tipper trucks, excavators, two lonking front end loaders, a Granvia minibus, six 1-tonner 3-wheeled dumpers, six 1-tonner 4-wheeled dumpers, two Penco compressors, Kipor ultra silent diesel generator, three cast iron valves, 10 aluminium valves, five small pumps with motors, five big pumps, electric winch machine and cock stock pie.

Hwange is facing litigation for claims amounting to $20.6 million while cases worth $20.1 million have been awarded against it.-The Source

(43 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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