Q FM Africa's Modern Radio
Mopani Copper Mines (MCM) and the Copperbelt Energy Corporation (CEC) have reached an agreement that will lead to the resumption of power supply to the mine today.
The agreement which has been facilitated by Government is to be amicably concluded between MCM and CEC over an agreed period of six (6) weeks.
During the same period, Mopani and Government will also conclude other outstanding matters on Value Added Tax (VAT) refunds and transfer pricing disputes.
Minister of Finance Felix Mutati, his counterparts for Energy and Mines David Mabumba and Christopher Yaluma respectively facilitated the Mopani-CEC talks that went on late into the night in Lusaka on 29th August, 2017.
In a statement made available to Q-news, special assistant to the president for press and public relations Amos Chanda says Mopani will today inform Labour Unions that negotiations are taking place in good faith and therefore there was no cause for panic.
He says all other matters incidental to the power impasse will be addressed by Mopani management.
Mr Chanda says Glencore Limited directors, the owners of Mopani were represented by Mr. Telis Mistakidis who flew in from Geneva, whilst CEC was led by Chief Executive Officer Owen Silavwe.
President Lungu had earlier in the day met Glencore Directors to discuss the situation at Mopani.
Mopani had refused to pay new electricity tariffs insisting the power supply agreement it signed with CEC was still valid.
This forced CEC to restrict power supply to Mopani, resulting in the mining firm shutting some of its operations putting thousands of jobs on the line.