( 2 minutes read)
· Vedanta Resources Limited, a Zambian unit, which is under
provisional liquidation has been served with an electricity bill of
US$132 million
· Konkola Copper Mines Plc, Zambia’s biggest single power user,
which recently won an interim order from the High Court preventing
Copperbelt Energy Corp. from curbing its electricity disputes against
alleged to defaults to CEC
Vedanta Resources Limited, a Zambian unit, which is under
provisional liquidation has been served with an electricity bill of
US$132 million. The company had filed this fact in an affidavit in the
court.
Konkola Copper Mines Plc, Zambia’s biggest single power user, which
recently won an interim order from the High Court preventing
Copperbelt Energy Corp. from curbing its electricity disputes against
alleged defaults to CEC. It (KCM) says that the power restrictions
would cause irreparable damage to its facilities.
KCM was placed under provisional liquidation a year ago, through a
state-owned minority shareholder. KCM owed US$47 million in unpaid
bills, according to the affidavit signed by Mbobe Nyondo at the time
of liquidation. KCM said it had paid US$45 million. CEC maintains
that it still owed US$132 million. The power provider then warned it
would restrict supply, relying on a notice from a year ago that has
since lapsed. The High Court in Kitwe, where KCM is based, will hear
the matter on May 26.
