Zambia power firms to cut supply to mines by 30% | Fin24
 
  • Deloitte

    The accounting firm has denied allegations of corruption related to Eskom contracts.

  • SAA Uncertainty

    What you need to know if you have a ticket or intend to buy one.

  • Michael Jordaan

    Forget Matric results - here's how to prepare your kids for jobs that don't yet exist.

Loading...

Zambia power firms to cut supply to mines by 30%

Aug 12 2015 13:24
zambia

(Shutterstock)

Company Data

GLENCORE PLC [JSE:GLN]

Last traded 46
Change 1
% Change 2
Cumulative volume 3318925
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Up to 10 hours of load shedding for Zambians

Old Mutual in talks for stake in Zambia power plant

Power crunch from SA to Nigeria darkens outlook

Glencore Zambia unit completes refinery upgrade

Zambia to review mining royalty hike

Zambia, Zimbabwe power plant plan expanded

 

Lusaka - Zambian power companies will cut electricity supply to mining firms by 30% due to a power deficit which threatens to bring the economy of Africa's No.2 copper producer to its knees, an industry official said on Wednesday.

The decision was reached on Tuesday in a meeting involving mining companies, state power utility Zesco and the largest supplier of power to the mines, Copperbelt Energy, Zambia Chamber of Mines president Jackson Sikamo told Reuters.

Zesco, which generates most of Zambia's electricity, is limiting supplies due to a 30% deficit after water levels at its hydro-electric plants fell due to drought, he said.

"Both Zesco and CEC have indicated that they will make available 70% of the power and the remaining 30% will have to be imported at higher cost," Sikamo said.

Individual mining companies were expected to inform their power suppliers how much of the imported power they need this week and agreements may be signed by next week, he said.

The power imports would mainly be sourced from coal-fired and diesel-powered thermal plants within the region, he said.

"This is very urgent because water levels continue going down and if there are no cut backs now, Zambia may be plunged into a total blackout by October," Sikamo said.

Mining companies operating in Zambia include First Quantum Minerals, Vedanta Resources, Glencore, Barrick Gold and VALE.
 

glencore  |  vale  |  zambia  |  africa economy  |  mining  |  power supply
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...