October 23, 2017

Zambia’s Konkola Copper Mines in a US$ 3.3m loss due to reduced power

Zambia’s Konkola Copper Mines (KCM) has undergone a US$ 3.3m loss which translates to 482t of copper. This loss comes after Copperbelt Energy Corp started restricting its power supply to the mines over unpaid bills.

Copperbelt Energy Corp was forced to restrict its power supply due to unpaid bills of electricity KCM consumed from April 2014 and now, accumulating to US$ 44m. This has further forced them to shut down its Nchanga concentrator.

KCM confirmed the reports in a statement that pointed out the effects of shutting down of the concentrator, noting that it has negatively affected production at their Tailings Leach Plant that mostly depends on it.

However, Zambia’s Energy has called for dialogue between Copperbelt Energy Corp and KCM to end the disagreement. KCM has previously lost a court application to stop Copperbelt’s action.

Copperbelt is one of the biggest power suppliers to mines in Zambia, while KCM, which produced 160,000t of copper in 2013, also owns a smelter at Nchanga and a refinery at Nkana.

Related posts