CEC, KCM Impasse Needs Urgent Attention

CEC, KCM Impasse Needs Urgent Attention

Kantanshi Member of Parliament Anthony Mumba has described as unfortunate the impasse between Konkola Copper Mine KCM and Copperbelt Energy Cooperation- CEC.

Mr. Mumba has noted that failure by the mining company to settle its debt will have a negative impact of CEC which also has to meet its obligations such as wages and tax payments.

He has observed that CEC is a viable business with a good track record adding that there is need for the cooperation and government to reach an amicable solution, beneficial to both parties.

On Wednesday, the Kitwe High Court ordered an interim injunction that has seen KCM to continue receiving power from CEC pending arbitration 26 May 2020.

The Power Supply Agreement between KCM and CEC expires on 31st May 2020.

CEC is said to be owed in excess of 131 Million US Dollars by KCM as at April 2020