Zambia’s largest mining companies are turning to an unexpected energy source amid the country’s severe power crisis: South Africa’s Eskom Holdings SOC Ltd.
Zambia, which typically depends on hydropower for about 85% of its electricity, has been hit hard by an unprecedented drought that has drastically reduced supply.
Households now only receive three hours of electricity per day, forcing companies like First Quantum Minerals Ltd. to source electricity from neighboring nations to keep their mines and smelters running, as reported by Bloomberg.
The energy shortage in Zambia has worsened significantly over the past few weeks. The country is on the verge of exhausting its water reserves at Kariba Dam, the world’s largest artificial reservoir, and may soon be forced to halt power generation for the first time.
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The crisis has been exacerbated by ongoing maintenance work at Zambia’s sole coal-fired power plant, putting additional strain on the already limited power supply and raising concerns for industries and mining operators in the near future.
“Power imports from Eskom, which were not initially included in earlier projections, are helping to offset the supply decrease,” said Anthony Mukutuma, a director at First Quantum’s Zambian division. “As a result, we expect uninterrupted power supply for First Quantum Minerals’ operations.”
Eskom has been providing Zambia with 250 megawatts of electricity since August, covering over 10% of the nation’s typical energy needs. Plans are underway to double this amount within a month through a separate deal, facilitated by Africa GreenCo, a regional power trading company. Africa GreenCo CEO Ana Hajduka confirmed these efforts in a recent interview, underscoring the ongoing initiatives to address Zambia’s energy crisis.
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