Mopani losing $3m a day due to power tariff stand-off

Energy Minister David Mabumba says Mopani Copper Mines is losing $3 million per day since the stand-off with Copperbelt Energy Corporation over tariffs began on August 11.

Speaking to journalists after he met Mopani officials in Kitwe today, Mabumba also revealed that he had directed the mine and CEC to resolve their dispute by close of business today.

“Today’s meeting with Mopani was to resolve some of the outstanding issues regarding the 9.3 cents or the increase in the power tariff. So what we have concluded is that Mopani and CEC are going to engage in detailed negotiations today with the view that before the end of this week, they can provide CEC with an interim tariff structure subject to them engaging in arbitration or further negotiations. So what we have agreed with Mopani, to help them so that we can restore the power, is for them to agree with CEC, at what tariff structure are they willing to accept as an interim measure subject to them going into some arbitration or further negotiations,” said Mabumba.

“I wanted to conclude the negotiations today and I have told them to give me the answer before close of business today. As far as Mopani is concerned, they are losing about $3 million per day.”

Mopani has since sent home some of its workers since the restriction of power supply.

Meanwhile, seven mining firms have started paying revised electricity tariffs among them Konkola Copper Mines, Barrick, Kansanshi, Luanshya Mines and Chambeshi.

         

Comment on article

2 Comments on "Mopani losing $3m a day due to power tariff stand-off"

Notify me of
avatar
4000
Sort by:   newest | oldest | most voted
Dennis Mulenga
Dennis Mulenga

Why doesn’t Mopani want to pay the revised tariffs and yet we also pay VAT refunds. Restrict that supply as there are no sacred cows in business. If they want to save that $3million a day, they should just honor up to the new tariffs.

pancho
pancho

losing $3m/day? meaning these mines make more than $3m/day. one wonders how they make loses when it comes to taxes or workers welfare

wpDiscuz

Send this to a friend