Zambia Copper Miners Face $276 Million Bill in Power Dispute
- Three-year long tariff dispute close to resolution: supplier
- Copperbelt Energy Board supplies miners including Glencore
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Zambian copper miners including the local unit of Glencore Plc could face a power bill of more than $276 million if they lose a dispute with the government over electricity tariff rises, according to Copperbelt Energy Corp., their biggest supplier.
A resolution to the three-year battle could come by the end of the month, Copperbelt said in its 2016 annual report, published on Friday. If the High Court rules in favor of the energy regulator and its tariff increases, the supplier will be ordered to pay state-owned power producer Zesco Ltd. $276 million in outstanding fees. The company would in turn pass the cost onto customers, Copperbelt said.