Zambia Asks Mines to Pay More for Electricity

Sep 18, (Reuters) –

Zambia, Africa's largest copper producer, has started negotiating higher electricity prices with foreign mining companies, the minister of energy said on Saturday.

Energy minister Kenneth Konga told a news conference that state power utility Zesco Ltd was currently in talks with miners over higher prices, but declined to say by how much.

"It is in the interest of the mines as well that the cost of power goes up because there will be no electricity if the country does not invest in new generation facilities," he said.

Foreign mining companies operating in Zambia include Canada's First Quantum Minerals (FM.TO), London-listed Vedanta Resources Plc (VED.L), Equinox Minerals (EQN.TO) (EQN.AX), Glencore International AG of Switzerland [GLEN.UL] and South Africa's Metorex (MTXJ.J).