[miningmx.com] – ZAMBIA’S Chamber of Mines said mining firms operating in the country would not be able to afford a 29% hike in the power tariff unveiled by the southern African country’s regulator on April 3.
In a report by Bloomberg News, Emmanuel Mutati, president at the Chamber of Mines, said: “It’s just a double whammy,’ referring to a 9.8% decline in copper prices this year.
Power accounts for about 15% of total mining costs in the country, he said.
Zambia’s mines use about 68% of the country’s electricity while less than a quarter of the population has access, said Bloomberg News citing the Copperbelt Energy.
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