SMM5 March 18: it is reported that KCM (Konkola Copper Mines Plc), a subsidiary of Vedanta Resources in Zambia, is currently in a dispute with CEC (Copperbelt Energy Corp), a power company in the country, over a US $132 million electricity bill, and KCM is now in the interim liquidation stage.
Earlier, CEC threatened to restrict its power supply, and KCM challenged CEC's request for payment, saying that power supply restrictions would seriously affect the relevant facilities.
It is reported that KCM had $47 million in outstanding bills at the time of liquidation, and although KCM said it had paid $45 million, CEC said it still owed $132 million.
The High Court of Kitwe, where KCM is located, will hear the matter on May 26th.
KCM received an interim order from the High Court on May 13th, which prevented CEC from restricting the electricity supply of KCM.
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