Abu Dhabi-based International Resources Holding (IRH) and Zambia’s state-owned ZCCM Investments Holdings (ZCCM-IH) are exploring new mining and mineral exploration opportunities in Zambia, two years after IRH committed $1.1 billion to revive and expand Mopani Copper Mines.
The companies reaffirmed their long-term partnership on October 14, saying they wanted to strengthen Mopani’s operations while identifying additional investment opportunities across Zambia’s mining industry.
“Beyond Mopani, IRH and ZCCM-IH are also exploring new opportunities for collaboration in mineral exploration and wider mining operations,” the companies said in a joint statement, according to Reuters.
IRH, a subsidiary of Abu Dhabi’s 2PointZero Group, acquired a 51% stake in Mopani in 2024, with ZCCM-IH retaining the remaining 49%. The investment followed Zambia’s earlier takeover of the copper producer as the government sought a strategic partner to support its recovery.
Mopani produced 66,369 metric tonnes of copper in 2025 and aims to increase annual output to 300,000 tonnes by 2029. Its expansion forms part of Zambia’s ambition to raise national copper production to three million tonnes annually by 2031.
IRH chief executive Ali Rashed Alrashdi said the investment reflected the company’s long-term commitment to the mine and the country.
“Our investment in MCM is a long-term commitment to the business and to Zambia. We value the open and constructive dialogue with ZCCM-IH and the engagement of Zambia’s leadership. We have a strong partnership with ZCCM-IH and share the same ambition for MCM: to build a stronger, more productive operation that can play an increasingly important role in Zambia’s copper industry,” Alrashdi said.
ZCCM-IH chairperson Phesto N. Musonda said the mine had played a significant role in supporting communities across the Copperbelt for generations.
“Mopani is more than a mine. For generations, it has sustained jobs, skills and livelihoods in Kitwe, Mufulira and across the Copperbelt. ZCCM-IH and IRH share a long-term commitment to its success, and we will keep working constructively with IRH, through our joint governance framework, to build a stronger, more productive operation.
“Our focus is timely delivery that brings higher production, secure jobs, more opportunities for Zambian suppliers and real improvements in surrounding communities, creating lasting value for our shareholders and the Zambian people,” Musonda said.
More than 99% of Mopani’s workforce is Zambian, while the company has spent more than $685 million with over 1,300 Zambian businesses across its supply chain, according to the companies.
Beyond Zambia, IRH has expanded its African critical minerals portfolio, acquiring a controlling stake in tin producer Alphamin Resources, which owns the Bisie mine in the Democratic Republic of Congo.
The latest discussions could widen IRH’s role in Zambia’s mining sector, although the companies have not announced specific new assets or investment amounts arising from the proposed collaboration.
The partnership comes as Zambia seeks to attract capital, increase copper production and strengthen its position in global markets for minerals used in electricity networks, renewable energy and electric vehicles.
