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Article: Zimbabwe : HCCL about to clinch US$75m credit lines.
- Article from:
- TendersInfo
- Article date:
- October 27, 2009
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Byline: rakshali03
HWANGE Colliery Company Limited (HCCL) is close to clinching credit lines worth US$75 million from the Development Bank of Southern Africa (DBSA), the managing director, Mr Fred Moyo, has said.
Briefing Mines and Mining Development Minister Obert Mpofu after a tour of the mine last week, he said the regional financial institution had said it would advance the loan on condition that HCCL secured sizeable export markets for its coking coal.
"Our discussions with the DBSA are at an advanced state, in fact at term sheet stage. Our off shore borrowings need to be secured against coking coal exports," he said.
Mr Moyo said ...