Operators fear that the Zambia copper mine will be shut down due to power supply problems
According to Dow Jones news August 14th, Glencore closed Monday's Zambia copper cobalt ore project, because the electricity supplier cut off the power supply. It has also led to fears that the country's second largest copper producer might have a large copper mine
Copperbelt Energy, the country's electricity supplier, will continue to supply power to miners only if they agree to pay 55% of the electricity price since April.
Power supply problems could lead to the closure of the country's third largest copper smelter.
The Zambia mining union, which represents the interests of the miners, said a substantial increase in electricity prices would endanger the country's miners, as copper prices remained depressed and power shortages continued to emerge.
Glencore, the country accounted for 1/4 of the total production of copper copper production in Zambia.
Mopani Copper (Copper Resources Corp Mopani Mines Plc) said that once the dispute with the electricity supplier price settlement, its Kitwe and Mofulira projects will resume production.
Zambia is now one of the ten largest copper producers in the world.