Hwange Colliery Company Limited has reportedly fired its board chairman, Farai Mutamangira, it has been learnt.
BY STAFF REPORTER
Circumstances leading to him being relieved of his duties are not yet clear, although Mines minister Walter Chidakwa is on record saying he had been axed.
Chidakwa said the lawyer would be engaged in other areas, which he, however, did not mention.
It has been speculated that he would take over as the head of the Zimbabwe Diamond Consolidation Company, although the manner he left Hwange is bound to raise questions.
While Mutamangira insists he left the company after a successful turn around strategy, there have been questions about HCCL’s profitability.
The company also embarrassingly purchased malfunctioning equipment in a deal worth $31,2 million.
Zimbabwe is working on consolidation of diamond producers to ensure more revenue flows to the fiscus.
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Early this year, Mines Mining Development minister Walter Chidakwa said all diamond producers will be amalgamated to form one institution, where the government would have 50% shareholding.
It is understood that the initial stage would see Marange Resources, Kusena and Gye Nyame Resources amalgamated into one entity.
Other producers would join at later phases.
