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 […]

Copperbelt Energy Corporation Plc, EnergySeptember 29, 2019

CEC Zambia Plc and ZESCO Limited in arbitration over debt
Mining and export Power utility, CEC Zambia Plc, has informed its stakeholders that it has received notice of intention to arbitrate from ZESCO Limited over failure to liquidate debt it owes its main supplier and wheeler of power, according to a statement from the company.   “In accordance with Section 3.4(b) of the Lusaka Securities […]

Copperbelt Energy Corporation Plc, EnergySeptember 22, 2019

CEC Africa set for another weak 6 month performance on account of low Nigerian electricity tariffs
CEC Africa’s woes are poised to continue as the company reports another half-year of weak financial performance from their Nigerian operations.   “In accordance with Section 3.4(b) of the Lusaka Securities Exchange Listings Requirements the Board of Directors of CEC Africa Investments Limited hereby advises the Shareholders of the Company that the Earnings Per Share […]

Copperbelt Energy Corporation Plc, EnergySeptember 9, 2019

Adjusting to new mining tax regime hurting CEC customers; CEC 2019 Half year Report
Zambia’s largest supplier of power to the mining companies, CEC Zambia Plc, has reported a 10% reduction in consumption of energy by its clients due to protraction in the making adjustments to the new mining tax regime, according to the company in its half-year performance review for 2019.   “Our customers consumed about 10% less […]

Copperbelt Energy Corporation Plc, EnergyAugust 27, 2019

CEC posts lower earnings per share on account of defaulting customer
Electricity supply company, CEC Zambia Plc., expects to post weaker results at half year 2019 due to weaker collections caused by delayed payments from one of its customers. “In accordance with the Lusaka Securities Exchange Limited (“LuSE”) Listings Requirements, the Board of Directors advises the shareholders of CEC (“the Company”) that for the six months […]