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Glencore’s Zambian unit Mopani Copper Mines (MCM) will pay increased electricity prices caused by the removal of state energy subsidies, the mines minister said Monday, following a dispute with its electricity supplier.

Copperbelt Energy Corp. (CEC), which buys power from the state-owned electricity company and sells to mines, slashed supply to Mopani due to a dispute over new, higher tariffs.

“They (Glencore) signed the agreement with Copperbelt Energy Corporation. The agreement is just acknowledgement of the new tariffs,” said Minister Christopher Yaluma at a media briefing.

-Reuters

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