Wankie culls management

ZIMBABWE’S Wankie Colliery has axed 10 senior managers as part of its restructuring plan to get the company back in the black.

Angie Tomlinson

Positions of general manager (operations) and general manager (finance and administration) have been restructured and technical services manager, processing manager, marketing manager, public relations officer, chief internal audit, security manager, purchasing manager, materials manager and human resources manager roles have been terminated.

All Africa sources at the colliery told the newspaper that it was all jitters among the remaining senior managers and other employees who are not yet certain about their fate.

Wankie has recorded massive losses, announcing a US$10 billion loss in September last year. The loss was attributed to the untenable position the company found itself in, whereby, its prices were controlled yet supplier's prices were not controlled. Furthermore, critical and maintenance spares sourced from local suppliers were priced on the basis of parallel market exchange rates.

Foreign currency shortages, increase in borrowing costs, price controls, transport constraints and the devaluation of the Zimbabwe dollar against major currencies, affected the company's operations.

Wankie has made moves to ramp up output this year, during January placing an order with JOY South Africa for a 12HM31 continuous miner and three D-shuttle cars for use in the mine's new 3Main section.