Zambia's CEC discontinues power supply to Konkola Copper Mines
2020-06-01 14:16:35 [Print]
Zambia's Copperbelt Energy Corp ("CEC") will stop supplying power to Vedanta's local unit Konkola Copper Mines ("KCM") from Monday, it said after talks on an extension to their supply agreement broke down over debt owed to CEC.
Zambia's Energy Minister Mathew Nhkuwa revealed that KCM would now receive its power directly from state-owned utility Zesco, which has previously sold electricity to CEC for onward supply to KCM.
Nkhuwa said the bulk electricity supply agreement between Zesco and CEC expired on March 31. The power supply agreement between CEC and KCM also came to an end on March 31 and was extended through mutual agreement only as far as May 31, CEC said in a statement last Sunday. KCM owes the energy company $132 million, CEC said.
A KCM statement said that, after the expiry of its contract with CEC, the company had entered into another agreement with Zesco, effective June 1.
Zambia's Energy Minister Mathew Nhkuwa revealed that KCM would now receive its power directly from state-owned utility Zesco, which has previously sold electricity to CEC for onward supply to KCM.
Nkhuwa said the bulk electricity supply agreement between Zesco and CEC expired on March 31. The power supply agreement between CEC and KCM also came to an end on March 31 and was extended through mutual agreement only as far as May 31, CEC said in a statement last Sunday. KCM owes the energy company $132 million, CEC said.
A KCM statement said that, after the expiry of its contract with CEC, the company had entered into another agreement with Zesco, effective June 1.
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