Just as government threatened to withdraw the licences of mining firms which refused to pay the increased taxes so did the mining companies threaten to stop their mining activities.
Dependent upon diesel-driven power plants which supply almost 200MW of electricity to the FQM mining operation at Kalumbila, almost 120 kilometers west of Solwezi the provincial capital needs an extra 30 percent for it to operate at full capacity.
Shares in the Vancouver-based miner soared Monday as the firm said it would likely hire an investment bank to advise the board on all strategic options.
The world is far from reaching peak gold – miners are making the most of a rising gold price to bring giant projects on stream before the end of the decade.