Glencore Plc’s Zambian copper unit reached a deal to resume full power supply to its operations after President Edgar Lungu met with senior company officials, according to his office. Copperbelt Energy Corporation (CEC) will restore power to Glencore’s Mopani Copper Mines and the two will conclude an agreement over a period of six weeks, the presidency said in an e-mailed statement on Wednesday. The government will also resolve other outstanding issues with Mopani regarding tax refunds and transfer pricing over the same period, it said. A Mopani spokesperson didn’t immediately respond to an e-mail looking for comment. CEC lowered supplies to Mopani after the company refused to pay new power prices introduced by the government at the start of the year. Mopani said the fee increase wasn’t part of its agreement with CEC and warned last week that the dispute could affect 4,700 jobs. The government has said it raised prices because it needs to pay for imports and electricity from private...
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