Zambia’s proposed mining law bad for investment, miners say

Zambia’s proposed minerals regulation law could deter investment and deliver a “fatal blow” to plans to raise yearly copper output to three-million tons, two mining bodies said on Wednesday.

Zambia, Africa‘s second biggest copper producer, is proposing a Minerals Regulation Commission Bill that would allow the government to acquire a shareholding in exploration areas before licences to search for minerals including copper are granted to investors.