September 21, 2017

Zambia restores full power supply to First Quantum mines

Zambia Minister of Energy, David Mabumba. Photo/ Cortesy of lusakatimes.com

Zambia has restored full electricity supply to the mines of First Quantum Minerals . This follows a settled dispute over the new higher prices.

Zambia’s state power company reduced electricity supply to two First Quantum copper mines because the mining firm had failed to pay the new flat electricity tariff of 9 cents/Kwh agreed by the utility Zesco and mining companies, Energy Minister David Mabumba said on Tuesday.

Talks between the two parties resolved that First Quantum will be deemed to have migrated to the new tariff structure with effect from January this year, Mabumba said in a joint statement with Finance Minister Felix Mutati.

“The Government, through Zesco, will put in place measures to ensure continuous, stable and full supply of power to FQM Operated Mines, including importation of power from alternative suppliers,” the statement said.

Source: Reuters

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