Hwange Colliery Company Limited announced audited earnings and operating results for the year ended December 31, 2015. For the year, the company reported revenue of USD 67,576,220 against USD 83,918,846 a year ago. Operating loss before interest and tax was USD 99,727,098 against USD 51,540,220 a year ago. Loss before tax was USD 105,689,216 against USD 56,365,731 a year ago. Loss for the year was USD 115,056,773 against USD 37,865,885 a year ago. Attributable loss per basic and diluted share was USD 0.63 against USD 0.21 a year ago. Headline loss per share – basic and diluted was USD 0.61 against USD 0.19 a year ago. Net cash flows used in operating activities was USD 2,152,866 against net cash flows generated from operating activities of USD 14,218,762 a year ago. Acquisition of property, plant and equipment was USD 30,804,938 against USD 346,840 a year ago. Revenue was affected by low production and sales volumes, the stagnant HPS coal prices and the decline in the HIC/HCC coal and coke prices for both local and export markets.

For the year, the company reported HPS coal of 887,273 metric tonnes against 871,632 metric tonnes a year ago. HCC/HIC coal was 503,706 metric tonnes against 459,325 metric tonnes a year ago. Coal fines were 113,421 metric tonnes against 375,841 metric tonnes a year ago. Total coal was 1,504,400 metric tonnes against 1,706,798 a year ago. Coke (Incl breeze) was 53,874 metric tonnes against 79,708 metric tonnes a year ago.