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Zambia’s Glencore’s unit agrees to pay higher electricity tariffs

Glencore’s Zambian unit Mopani Copper Mines (MCM) will pay increased electricity prices caused by the removal of state energy subsidies, the mines minister said Monday, following a dispute with its electricity supplier.

Copperbelt Energy Corp. (CEC), which buys power from the state-owned electricity company and sells to mines, slashed supply to Mopani due to a dispute over new, higher tariffs.

“They (Glencore) signed the agreement with Copperbelt Energy Corporation. The agreement is just acknowledgement of the new tariffs,” said Minister Christopher Yaluma at a media briefing.

-Reuters

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