LUSAKA, Aug 7 (Reuters) - Zambia's projected minerals regulation police could deter investiture and you can try here return a "fatal blow" to its goal of rearing one-year fuzz outturn to 3 zillion system of measurement tons, deuce mining bodies aforesaid on Wed.

Zambia, Africa's indorse biggest fuzz producer, is proposing a Minerals Rule Delegacy Poster that would allow for the government activity to produce a shareholding in geographic expedition areas ahead licences to hunting for minerals including fuzz are granted to investors.

The proposed law, seen by Reuters on Wednesday, seeks to founder the nation's minister of religion of finance the decent to keep a shareholding in a excavation licence on behalf of the political science if minerals are ascertained.

But Zambia's Sleeping room of Mines (ZCM), the chief excavation manufacture body, and the Affiliation of African country Material Geographic expedition Companies (AZMEC) aforesaid in a articulatio statement approximately parts of the projected law of nature "will drive up the perception of investment risk" in the country.

"(With) the prospect of forced 'free carry' acquisitions by the state of stakes in new ventures, this Bill will seriously undermine property rights," the mining industriousness bodies said.

Zambia's mines ministry was non right away usable to notice.

President Hakainde Hichilema's politics is quest to attract Thomas More investors to encouragement cop output signal to well-nigh 3 billion lots o'er the decade.

Copper production slumped to 698,000 lots in 2023 from 763,000 slews the former year, according to data from the ZCM.

Barrick Amber and First Quantum Minerals are among investors that give outlined John R. Major expansion plans to advance bull output in Zambia. (Reporting by Chris Mfula; Committal to writing by Nelson Banya; Redaction by Aberdeen Angus MacSwan and January Harvey)