Zambia: KCM power supply slashed

THE ZAMBIAN unit of Vedanta Resources had its power supply slashed because of a dispute over $44 million (R489m) in payments, Copperbelt Energy Corporation (CEC) said yesterday. CEC said the unit, Konkola Copper Mines (KCM), had not fully paid for power since April because of a dispute over charges. “KCM’s refusal to make payments against invoices issued, even on undisputed amounts, has had a serious adverse effect on CEC’s business,” the company said. “CEC has been subjected to subsidising and sustaining the KCM operations for close to six months.” The company has been forced by the cuts to shut down its concentrator, which processes copper, according to a source. – Bloomberg