The Copperbelt Energy Corporation Plc has signed a long-term contract to supply up to 78 megawatts (MW) of electricity to Metalkol SA, a major cobalt and copper tailings reprocessing operation in the Democratic Republic of Congo (DRC).
According to market announcement released through the Stock Exchange News Service (SENS), CEC will commence supply of the 78MW in two phases.
“CEC” is pleased to inform its shareholders and the general public that the company has signed a long-term contract to supply up to 78MW of electricity to Metalkol SA, a major cobalt and copper tailings reprocessing operation in the DRC. The contract, agreed with the Metalkol and DRC’s national electricity company Societe National d’Electricite (SNEL), secures electricity supply to Metalkol for up to ten years in two phases,” read the announcement.
“The first phase, to deliver a total of 62MW, will run until the second quarter of 2019; following, which power supply will ramp up to 78MW per year during the second phase and for the remainder of the contract.”
According to the market announcement, CEC managing director Owen Silavwe described the agreement as a demonstration of CEC’s commitment, agility and promise to meet the specific and unique requirements of customers in Zambia and the DRC market, and a reaffirmation of the company’s growing partnership with SNEL and the mining community in the DRC.
Metalkol is owned by Eurasian Resources Group (ERG), a leading diversified natural resources group, and is also a low-cost hydro-metallurgical facility.