Economy

CEC Restores Power to KCM

The Copperbelt Energy Corporation (CEC) has restored full power supply to Konkola Copper Mines Plc (KCM).

CEC Corporate Affairs Manager Chama Nsabika said the action follows an agreement reached between CEC and KCM for KCM to settle the overdue amounts imminently.

On Thursday, 30th August 2018, CEC effected partial restriction of power supply to selected surface loads at KCM due to payment default for power invoices.

“The total power supply restricted amounted to approximately 14 percent of KCM’s monthly power consumption. During the process, CEC took all due care to ensure that the partial power restriction did not in any way negatively impact the safety of mining operations, environmental and community related services or cause any damage to equipment,” she stated in a statement.

Meanwhile, KCM had announced that it will delay August salaries for management for another two weeks.

According to a memo, signed by KCM Vice President Human Capital Management Beatrice Mutambo, Management will only be paid in the second week of September.

“We wish to advice that management salaries for the month of August 2018 will be paid in the second week of September 2018. This delay is due to the pressure to fulfill the payment commitments with the power supply,” read the memo.

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