Zambia's previous government put KCM into the hands of liquidator Milingo Lungu, triggering an ongoing legal dispute with Vedanta.

The proposal now returns to the environmental commission, where it will be renegotiated before facing a second vote.

Article 27 would grant the state exclusive rights to lithium, rare earth metals and hydrocarbons while also making the state a majority shareholder of any copper mines.

Country is currently studying 145 applications for exploration licenses from foreign companies.

The Fed on Wednesday raised its benchmark overnight interest rate by half a percentage point, the biggest jump in 22 years.

High metals prices expected to cushion majors' weaker production and rising costs.

Transition plans and a search for CFO and COO are underway.