Hwange Colliery Company Limited announced unaudited earnings results for the six months ended June 30, 2018. For the six months, the company reported revenue of $30,538,196 compared to the $18,814,733 a year ago. This represented a 62% increase which is due to an increase in sales volume of 51% and increased prime grades in the sales mix. Operating loss was $14,853,661 compared to $13,954,423 for the comparative period last year. Loss before tax was $23,001,395 against $24,562,821 a year ago. Loss for the period was $23,001,395 against $24,562,821 a year ago. Loss per basic and diluted loss per share was $0.13 against $0.13 a year ago. Headline loss per Basic and diluted share was $0.13 against $0.13 a year ago. Net cash generated from operations was $13,436,074 against $3,752,555 a year ago. Purchase of property was $2,551,902 against $13,443 a year ago.

For the second half of 2018, the company operating plan will continue to focus on increased production and improved efficiencies. However, increased production requires that the company allocates more funding to its operations focusing on its core business of mining and reducing non-mining costs in line with industry best practices.