In Zambia, Konkola Copper Mines, which is currently in liquidation, is fighting to keep its electricity supply. The Vedanta Unit subsidiary has, according to court records, an electric bill of $ 132 million. It recently obtained from the High Court of Justice a stay of the decision of the Copperbelt Energy Corp (CEC), to reduce the quantity of energy which it supplies to it.
KCM challenged in court the amount of the bill presented to it by Copperbelt Energy. The latter stated that: “The non-payment by KCM of the energy it consumed, gave rise to liquidity problems for CEC business and exposes the company to greater inconvenience”, said affirmed the energetician.
At the time of its liquidation, KCM owed CEC $ 47 million. She said, through her risk and energy manager, Mbobe Nyondo, that she had paid her bill. To which the CEC replied that the total amount owed rather amounts to $ 132 million.
The two companies will be heard by the court on May 26.
This altercation is not the first between the two entities. They had a similar argument in 2014. Konkola Copper Mines is currently the largest private consumer of electricity in Zambia.
Source: Agence Ecofin