Zambia to hike power rates

June 20 2012 at 04:57pm
By Reuters

Reuters.

Zambia will gradually raise the electricity tariffs it charges mining firms in Africa's top copper producer so that by 2105 they reflect the true cost of producing power, its energy regulator said on Wednesday.

“We would like to see a situation where all the mines pay cost-reflective tariffs and we want to see this migration by 2015,” James Manda, the regulator's director for infrastructure and regulation, told a mining and energy conference in Lusaka.

Companies operating in Zambia include Glencore, Indian miner Vedanta and Canadian-listed First Quantum , Barrick Gold and Brazil's Vale. - Reuters

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