HARARE – Troubled coal miner Hwange Colliery has suspended its acting managing director Shepard Mananike and finance executive, Tawanda Marapira.
A brief statement from the company said they have been suspended for alleged “unethical business practices and financial impropriety”.
Hwange suspended its managing director Stenjwa Thomas Makore in May on allegations of corruption, and Mananike has been acting in his absence.
Last week, Hwange said its revenue for the half year to June increased by 62 percent to $30.5 million (R400 million) from $18.8 million for the same period last year.
Hwange attributed the increase to a 51 percent rise in sales volume and increased prime grades in the sales mix.
The company reported a six percent decrease in loss to $23 million from $24.5 million in 2017.
It said production improved significantly to 819 859 tonnes from 565 298 tonnes, an increase of 45 percent.