Zambia: MOPANI mining firm, Energy firm agree power deal after President Lungu’s intervention

Lusaka, Zambia (PANA) - Mopani Copper Mines (MCM) and the Copperbelt Energy Corporation (CEC) have reached an agreement that will lead to the resumption of power supply to the mine Wednesday after President Edgar Lungu’s intervention.

According to a statement released by President Lungu’s special assistant for Press and Public Relations, Amos Chanda, the agreement which has been facilitated by Government is to be amicably concluded between MCM and CEC over an agreed period of six (6) weeks.

During the same period, Mopani and Government will also conclude other outstanding matters on Value Added Tax (VAT) refunds and transfer pricing disputes.

The Minister of Finance, Felix Mutati, and his counterpart, David Mabumba, from the Ministry of Energy and the Minister of Mines, Christopher Yaluma, facilitated the Mopani-CEC talks. The meeting follows President Lungu’s directive to the Ministers to meet CEC and Mopani management over the revised electricity tariffs.

The State House statement said Mopani will Wednesday inform Labour Unions that negotiations are taking place in good faith and therefore there was no cause for panic and that all other matters incidental to the power impasse will be addressed by Mopani management.

Glencore Limited directors, the owners of Mopani were represented by Telis Mistakidis who flew in from Geneva, whilst CEC was led by Chief Executive Officer Owen Silavwe.

President Lungu earlier met Glencore Directors to discuss the situation at Mopani.

Mopani this week deactivated mine access cards for more than 300 miners working for contractors and suppliers on the Copperbelt province. This was after it had earlier deactivated 1,000 electoronic access cards for employees engaged by companies when CEC restricted power supply to the mine following a dispute that arose when government hiked electricity for both commercial and domestic usage.
-0- PANA MM/VAO 30Aug2017

30 august 2017 15:35:47

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