The Zimbabwe Stock Exchange (ZSE) mining index rallied 24% to close yesterday’s trade at 100,70 points on the back of gains by coal miner ,Hwange Colliery.

The company which is currently pursuing capital raising initiatives following the ushering of a new board gained 10 cents to 40cents.

Despite a favourable outlook for resources globally, the ZSE mining index has continued to struggle with a year to date loss of 35,5%.

Gold producer, Falcon Gold however did not disappoint with its financials that saw it trading back to profitability after an encouraging performance at it mining operations.

In the nine months to September, the miner recorded $11,6 million in revenue ,a profit after tax of $1,7 m and expects to increase capacity at Dalny Mine and Golden Quarry Mine.

The ZSE, once one of the beast performing stock exchanges has been hard hit by liquidity challenges and is 5,4% down year to date.

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