Copperbelt Energy Corporation Plc
[Incorporated in the Republic of Zambia]
Company registration number: 39070
Share Code: CEC
[“CEC” or “the Company”]
Copperbelt Energy Corporation Plc (“CEC” or “the Company”) is pleased to inform its Shareholders and the general public that the Company has signed a long-term contract to supply up to 78MW of electricity to Metalkol SA (“Metalkol”), a major cobalt and copper tailings reprocessing operation in the Democratic Republic of Congo (“DRC”). Metalkol, which is owned by Eurasian Resources Group (“ERG”), a leading diversified natural resources group, is also a low-cost hydro-metallurgical facility.
The contract, agreed with Metalkol and DRC’s national electricity company Societe National d’Electricite (“SNEL”), secures electricity supply to Meltakol for up to ten years in two phases.
The first phase, to deliver a total of 62MW, will run until the second quarter of 2019; following which power supply will ramp up to 78MW per year during the second phase and for the remainder of the contract.
The Company’s Managing Director, Owen Silavwe, has described the agreement as a demonstration of CEC’s commitment, agility and promise to meet the specific and unique requirements of customers in Zambia and the DRC market, and a reaffirmation of the Company’s growing partnership with SNEL and the mining community in the DRC.
Benedikt Sobotka, CEO of Eurasian Resources Group, commented that “This is an important milestone in the progress of the Metalkol project, a unique development for the global battery industry. It is an example of sustainable and environmentally conscious treatment of the local environment, and of our wider strategic ambitions in Africa. Together with our partners, who are vital companies in their respective countries, we have found an effective solution to guarantee a reliable electricity supply, which has previously been an issue in the region.”
SNEL’S Director General, Jean-Bosco Kayombo Kayan, said the trilaterak agreement signed with CEC and Metalkol demonstrates SNEL’s willingness to serve its customers by offering expertise in the Southern African energy market.
Issued in Lusaka, Zambia on Thursday, 2nd August 2018
|Lusaka Securities Exchange Sponsoring Broker|
Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia
First Issued on Friday, 27th July 2018