FQM Supports ZESCO Unbundling

FIRST Quantum Minerals head of government affairs John Gladston says he fully supports the unbundling of Zesco so that it can improve its efficiency affordably.
Speaking when a delegation of diplomats toured FQM’s operations in Solwezi and Kalumbila, Gladston said the government needed to unbundle Zesco if it was to establish true cost reflective electricity tariffs.
“I fully support the recent comments made by the Zambia Development Agency’s director general Patrick Chisanga who recently called for the unbundling of Zesco in order to improve the affordability and efficiency of delivery of electricity across Zambia,” Gladston said.
He said FQM recently spent US$206 million installing 600km of 330KV double transmission line and sub-stations to deliver power to rural North Western Province, significantly increasing the reliability and stability of the ZESCO electricity grid.
“There are many examples across the world where such efficiency has only been achieved by the root and branch reform of state-owned
electricity utilities,” Gladston added.
He appealed to the government to provide private sector confidence and help attract further foreign direct investment.
Gladston further called on Zambia to devise a long-term energy strategy that included a mix of hydropower, renewable energy and fossil fuel generation in order to address the nation’s chronic power deficit.
And Finnish Ambassador Timo Olkkonen said Zambia could learn from Europe’s expertise in terms of power generation using renewable
resources of energy.
He said there was need to create a suitable energy mix that could provide reliable and enduring base-load power for Zambia.
“I think there are opportunities there,” said Ambassador Olkkonen.
The delegation that toured FQM operations also included European Union Ambassador to Zambia Alessandro Mariani, German Ambassador Achim Burkart, Irish Ambassador Seamus O’Grady and Italian Ambassador Filippo Scammacca.
First Quantum has invested in excess of US$5.7 billion in its Sentinel and Kansanshi mines and the Kansanshi Smelter and has employed more than 8,500 people on the projects.