Makomo exports increase in Q2

Makomo exports increase in Q2
Published: 05 September 2017
Makomo Resources Limited, Zimbabwe's largest coal miner said exports peaked during the second quarter, largely driven by high demand from the regional countries.

Coking coal and washed peas exports rose 17 percent compared to the same quarter last year, director Mr Ray Mutokonyi told our Harare Bureau in an interview yesterday.

"We have witnessed growing demand from Zambia and the Democratic Republic of Congo while some little orders are coming through from Malawi," said Mr Mutokonyi.

"We are much confident that we will be able to push more volumes in the last half of the year."

Mr Mutokonyi said the country was also making inroads into the South African market, but blamed lack of competitiveness of the local commodity due to high transport costs.

"The inefficiencies of the National Railways of Zimbabwe has made it difficult to move our products at a competitive price and this is our major constraint to push more volume into SA," he said adding that the company had been largely relying on expensive road transport.

Makomo Resources operates in Hwange with its mineral resource at Entuba Colliery, situated approximately 17km from Hwange town.

The company is the largest privately owned coal producer in Zimbabwe and established itself as a leading force in the industry since its inception in June 2010. Makomo also produces thermal coal for power generation and cobbles for curing tobacco.

Last year, the company obtained a licence from Government to build a 660 megawatt thermal power station and negotiations with Chinese investors are underway.

The company intends to build 2×330 MW plants, with the project expected to commence early next year, Mr Mutokonyi said without giving much detail on the progress.
- online
Tags: Makomo,


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