6th Aug 2015 16:44
LONDON (Alliance News) - First Quantum Minerals Ltd Thursday said that full power supply has been restored to its Kansanshi operations and Sentinel project by ZESCO, Zambia's state-run power company.
In July, after receiving notice of a Force Majeure by ZESCO, electricity supply to Kansanshi was reduced to 117 megawatts from the steady-state level of 153 megawatts. The reduction in supply applied to all mining operations on the north west of the country.
"While the company believes some restrictions may be re-imposed during the remainder of 2015, ZESCO has stated that it has contracted independent power producers such as Maamba Collieries Ltd and Itezhi Tezhi Power Corp through the signing of power purchase agreements to procure more electricity by the end of 2015," First Quantum said in a statement on Thursday.
Shares in First Quantum closed down 1.1% at 492.00 pence on Thursday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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