Copperbelt University (CBU) Associate Professor in the School of Mines Peter Chileshe says the rift between Copper Energy Corporation and Konkola Copper Mines-over a power supply debt will have a severe effect on the economy if not urgently resolved.
Professor Chileshe says there is need for the two private parties to quickly find an amicable solution because of the economic value of KCM on the country’s economy.
He was speaking in an interview with ZNBC News in Kitwe yesterday in the advent of revelations that CEC has served the mining giant with a notice to cut electricity supply over a debt.
KCM reportedly owes CEC about 40 million dollars in unpaid electricity bills and has failed to settle the debt despite several demands.
Professor Chileshe notes that the dispute if left unchecked will have severe consequences on the social lives of thousands of indigenous Zambians who are employed by KCM.
He has since called on the board of directors for both KCM and CEC to find an amicable way of resolving the impasse without jeopardizing the operations of the mining company.
KCM, which employs over 16-thousand direct workers, is primarily engaged in the exploration, mining, production and sale of copper and copper by-products.
State House Spokesperson Amos Chanda recently revealed that President Lungu had requested the Ministers responsible for Mines and Energy to facilitate a lasting solution between CEC and KCM.