By NATION REPORTERZESCO and ERB must disclose how much the power utility firm will lose in the consent judgement recently entered between the entities and the seven mining firms in the country, PF presidential aspirant Emmanuel Mwamba has said.He said Zesco was losing over US$1 billion as a result of a consent judgement that was entered between the company and seven mining firms over increased tariffs.Mr Mwamba said in 2015, seven mining companies sued ERB for allegedly unlawfully allowing Zesco and the Copperbelt Energy Company (CEC) to increase tariffs.The mining firms include Lumwana, Kansanshi, Lubambe, Mopani, Chibuluma, NFC Africa and Chambeshi Metals challenged ERB, Zesco and CEC for increasing tariffs despite the bulk agreements made between Zesco and CEC.ERB, Zesco and CEC entered into a Consent Judgement with the seven mines and the mines don’t have to pay the billions owed since 2015.Mr Mwamba said if Lumwana alone did not pay US$228million, what about the […]
Zesco losing US$1billion
