Copperbelt Energy Corporation Plc, EnergyAugust 29, 2020

Mandatory offer for CEC Africa shares made by BP Investments
Quoted company on the Lusaka Securities and Exchange, CEC Africa, has announced that a mandatory offer has been made by BP Investments Limited for purchase minority shareholders stake in the company that has operations in Nigeria. “Shareholders of CEC Africa Investments Limited will be aware that on 17 June 2020, BP Investments Limited purchased shares […]

Copperbelt Energy Corporation Plc, EnergyAugust 19, 2020

CEC Plc forecasts 514% lower earnings
Embattled energy company, CEC PLC, has indicated to shareholders that it expects its earnings per share to be lower at half-year of the current financial year due to debts owed by a former mining customer. “In accordance with Section 3.4(b) of the Lusaka Securities Exchange Listings Requirements (“LuSE Listings Requirements”), the Board of Directors of […]

Copperbelt Energy Corporation Plc, EnergyAugust 15, 2020

Zambian Energy Corporation withdraws claim against CEC Africa
The letter of demand that was issued to CEC Africa has been withdrawn following an agreement being reached with Zambia Energy Corporation, according to a statement from CEC Africa. “Shareholders of the Company are referred to the Cautionary Announcement first issued on 17 July 2020 in which Shareholders and the market were advised that the […]

Copperbelt Energy Corporation Plc, EnergyJuly 19, 2020

Letter of demand served on CEC Africa
CEC Africa has been served a letter of demand from Zambia Energy Corporation Limited of K15.40 million, according to a statement from the Company. “CECA shares are traded on the second-tier market (referred to as the Quoted Tier) of the Lusaka Securities Exchange (“LuSE”). In compliance with the disclosure requirements under the Act, CECA hereby […]

Copperbelt Energy Corporation Plc, Energy, MiningJune 9, 2020

Konkola Copper Mine parts company with Copperbelt Energy
Barely a fortnight after publishing its 2019-year end financial results which signaled the erosion of value due to impairments caused by its biggest mining customer, Copperbelt Energy Plc (CEC) has announced the end and non-renewal of its power supply contract with Konkola Copper Mine (KCM). “In accordance with Section 11.40 of the Lusaka Securities Exchange […]

Copperbelt Energy Corporation Plc, EnergyMay 27, 2020

CEC Plc reports erosion in 2019 earnings due to ‘MineCo’ impairment
Copperbelt Energy Plc has signaled to the market that it expects to record lower earnings for the financial year 2019 due to unpaid receivables from one of its largest mining customers, according to a statement from the company. “In accordance with the Lusaka Securities Exchange Limited Listings Requirements, the Board of Directors of the Copperbelt […]

Copperbelt Energy Corporation Plc, EnergyApril 18, 2020

CEC arbitration matter still ongoing despite end of BSA
CEC Plc has notified shareholders that the arbitration matter regarding outstanding amounts owed to ZESCO Limited is still ongoing despite the epilogue of the BSA on 31st March 2020, according to the latest SENS announcement from the company. “Shareholders are referred to the cautionary announcement, dated 27th September 2019, issued by the Board of Directors […]

Copperbelt Energy Corporation Plc, EnergyApril 3, 2020

An autopsy of the death of the CEC – ZESCO BSA
31 March 2020 was a day of high expectations in the energy and mining sectors. A big announcement which potentially would change the complexion of the two sectors in Zambia was being awaited. The proclamation that came however was received with mixed reactions by the players in the two sectors and the general public. Zesco […]

Copperbelt Energy Corporation Plc, EnergyApril 1, 2020

CEC announces the end of its 23-year power purchase contract with ZESCO
The Lusaka Securities and Exchange-listed supplier of electricity to the Copperbelt mining companies, CEC Plc, has announced the end of its long term power purchase agreement with the national electricity utility effective 31st March 2020 bringing an end to a 23-year-old contract that was signed at the pinnacle of the mining companies privatization, according to […]

Copperbelt Energy Corporation Plc, EnergyJanuary 4, 2020

CEC Zambia Plc signals acknowledgment to the ‘end of an era’
The only electricity generating company listed on the Lusaka Securities and Exchange has advised shareholders and stakeholders that the contract they have with national utility that provides it with the power it supplies both to domestic mining companies and exports to the Congo will be ending in March this year. CEC Plc which has prided […]