Wednesday, November 5, 2008

CEC confirms hydro plans with Glencore in Zambia

Zambia’s Copperbelt Energy Co (CEC) has confirmed it plans to set up a joint venture with Glencore to invest in a $1.5 billion hydro power station to improve power supply to copper mines in the country. Zambia faces a severe power deficit, CEC md Neil Croucher said, but Glencore and other mining companies are investing significantly in expanding their operations in the area.