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CEC has issued a warning to shareholders that its power supply agreement with Konkola Copper Mines (KCM) had come to an end.
According to the company, the contractual lapse removes any contractual obligations for CEC to continue supplying electricity to KCM.
The development comes after KCM had accumulated a debt of USD144.7 million in unpaid power charges and signed a term sheet with ZESCO for power supply.
However, the government has issued a statutory instrument declaring CEC transmission and distribution lines as ‘Common Carrier’, enabling ZESCO to transport or wheel power through the CEC infrastructure to supply KCM.
