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Africa   9 cents/Kwh

Zambia restores power supply to First Quantum Minerals

First Quantum Minerals  ZambiaZambia has restored full electricity supply to the mines of First Quantum Minerals, the ministries of finance and energy said on Saturday.

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READ MORE Zambia, First Quantum seen resolving $1.4 billion dispute in June

This comes after reducing power to the mines earlier this week in a dispute over new, higher prices.

Zambia's state power company reduced electricity supply to two First Quantum copper mines because the mining firm had failed to pay the new flat electricity tariff of 9 cents/Kwh agreed by the utility Zesco and mining companies, Energy Minister David Mabumba said on Tuesday.

But after talks with the mining firm, it was resolved that First Quantum will be deemed to have migrated to the new tariff structure with effect from January this year, Mabumba said in a joint statement with Finance Minister Felix Mutati.

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