International Resources Holding Completes Acquisition of Majority Stake in Alphamin Resources Corp.
Ali Alrashdi, CEO of International Resources Holding, commented: "This acquisition marks a significant milestone for IRH. We see Alphamin, and its operations at Bisie, not just as a world-class tin asset, but as a strategic opportunity for the long-term development of a vital resource for the green energy transition, and a long-term boost to development in North Kivu, through investment in sustainable operations, skills development, and local partnerships. We look forward to working closely with Alphamin management and the communities around Bisie to unlock shared value."
IRH, through its wholly owned subsidiary, Alpha Mining LTD, has acquired 718,990,967 common shares (the " Acquired Shares") of Alphamin (the " Common Shares") from Tremont at a price of C$0.70 per share, representing approximately 56% of the outstanding shares of Alphamin. IRH has paid Tremont US$367,001,749 in cash for the Acquired Shares.
Required Early Warning Disclosure
Immediately prior to entering into the definitive agreement regarding the Transaction, IRH did not own any Common Shares.
Prior to completion of the Transaction, Tremont owned 729,124,559 Common Shares, representing approximately 57% of the outstanding Common Shares, and upon completion of the Transaction, continues to hold 10,133,592 Common Shares, representing approximately 0.8% of the outstanding Common Shares.
IRH has acquired the Acquired Shares for investment purposes. IRH intends to review its investment in Alphamin on a continuing basis and, depending upon various factors, including without limitation, the price and availability of Alphamin's securities, subsequent developments affecting Alphamin, its business and prospects, other investment and business opportunities available to IRH, general industry and economic conditions, the securities markets in general, tax considerations and other factors deemed relevant by IRH, IRH may (i) change its beneficial ownership of the Common Shares, whether through transactions effected in the open market, by privately negotiated agreements, or otherwise, or (ii) consider or propose, develop plans or take action which relate to or would result in, one or more of the actions described in subparagraphs (a) - (k) of Item 5 of Form 62-103F1 - Required Disclosure Under the Early Warning Requirements. Among other things, IRH may in the future consider the appropriateness of exploring one or more transactions to acquire the balance of the outstanding Common Shares after discussion with Alphamin's shareholders, board of directors and/or other stakeholders.
Tremont holds its Common Shares for investment purposes. The disposition of Common Shares was undertaken in the ordinary course of business for investment purposes.
The Transaction was not completed through any stock exchange or other securities market. The acquisition of the Common Shares was made by way of private agreement with five or fewer third parties at a price per share not exceeding 115% of the market price of the Common Shares and in compliance with the "private agreement exemption" under section 4.2(1) of National Instrument 62-104 Take-Over Bids and Issuer Bids.
Copies of the Early Warning Reports of both IRH and Tremont with respect to the Transaction will be filed under Alphamin's SEDAR+ profile at www.sedarplus.ca, and may also be obtained by contacting the respective IRH and Tremont contacts listed below.
The head office of Alphamin is located c/o ADANSONIA MANAGEMENT SERVICES LIMITED, Perrieri Office Suites, C2-302, Level 3, Office Block C, La Croisette, Grand Baie, 30517, Mauritius.
About International Resources Holding (IRH)
International Resources Holding (IRH) is an Abu Dhabi-based global mining company, focused on securing and optimizing industrial metals supply chains. IRH invests in high-quality upstream and midstream assets to enhance the stability and efficiency of global raw material markets.
For more information, visit www.irh.ae
IRH's head office is located at:
International Resources Holding RSC Ltd
Ground floor, Building C12
Al Halawi St, Al Muntazah,
Ministries Complex, Abu Dhabi
About Tremont Master Holdings (Tremont)
Tremont is an investment holding company incorporated under the laws of Mauritius.
Tremont's head office is located at:
Tremont Master Holdings
C/o Adansonia Management Services Limited
Suite 1, Perrieri Office Suites, Office Block C, La Croisette
30517
Grand Baie
Mauritius
SOURCE International Resources Holding
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Star
5 hours ago
- Toronto Star
A private Toronto college abruptly closed — and left these students out thousands of dollars, with no diplomas
Students are accusing a private advertising college in Toronto of broken promises after it allegedly failed to deliver on internships or even a functioning campus before abruptly shutting down — leaving them thousands of dollars in debt and without diplomas. The group of nine say they were drawn to Miami Ad School Toronto by guarantees of hands-on experience, professional instruction and vital connections in the advertising industry. That the American-based college also boasted global awards and graduates who ended up at Ogilvy & Mather, BBDO, Droga5 and Canadian firm Rethink, among others, added to the appeal.
CTV News
8 hours ago
- CTV News
Eric Ham: China's record purchases of Canadian crude could be a harbinger of more deals to come
Eric Ham on U.S. President Donald Trump saying a deal may not happen ahead of the August 1 deadline and Canada may be forced to 'just pay tariffs.'
CBC
9 hours ago
- CBC
What the U.S. dairy industry really wants from Canada
U.S. dairy producers insist they're not looking for Canada to dismantle its supply management system, but they do want Canada to follow the letter and spirit of the existing deal that governs the dairy trade between the two countries. U.S. President Donald Trump has repeatedly blasted Canada as "unfair" and "ripping us off" with massive dairy tariffs, in a way that isn't fully accurate. However, senior figures in the U.S. dairy industry are concerned there's also some misrepresentation happening north of the border, creating a false perception of what U.S. producers are actually seeking in terms of access to the Canadian market. Shawna Morris, executive vice-president for trade policy and global affairs with the National Milk Producers Federation and the U.S. Dairy Export Council, says it's not true that her industry wants Canada to abandon its system for protecting the dairy sector. "We've never been out to eliminate Canada's supply management," said Morris in an interview from her office in Arlington, Va., just outside Washington. "It's much easier to create a boogeyman and fear-mongering around that being the goal of the Americans, but that's certainly not what our industry has advocated." Becky Rasdall Vargas, senior vice-president of trade and workforce policy at the International Dairy Foods Association lobby group, says she recognizes the Trump administration has been "fairly abrasive" in its tone toward Canada. "But at the same time, I think we feel pretty ignored by Canada in terms of our legitimate trade concerns." Two main trade irritants According to Morris and Rasdall Vargas, the U.S. industry has two main irritants with Canada: how the Canadian government allocates the existing quotas for tariff-free imports of dairy products, and how Canadian milk producers dump cheap milk protein into the international market. The import quotas negotiated under the Canada-U.S.-Mexico Agreement (CUSMA, which Americans call USMCA) are designed to give U.S. producers tariff-free access worth roughly 3.5 per cent of Canada's domestic demand for dairy products. "Three per cent is pretty limited," said Morris. "It's certainly not a situation where our industry is gonna come in and take over the Canadian dairy market." CUSMA sets import quotas for 14 categories of dairy products. That allows an annual volume of each category to enter Canada tariff-free, and any imports exceeding the quota would get hit with sky-high tariffs of 200 per cent or more. Canada's rationale for this is ensuring the domestic dairy industry thrives by effectively capping how much the U.S. can export each year, preventing cheaper American products from dominating the market. The U.S. government supports its dairy sector with hefty direct subsidies. The U.S. dairy industry says it's not asking for Canada's quotas to be increased or the tariff rates to be decreased. Rather, it wants changes to how Ottawa allocates the quotas: more specifically, who gets them. Big Canadian dairies dominate import quotas Much of the quota volume is allocated to major Canadian-owned dairy processing companies such as Saputo and Agropur. Industry analysts on both sides of the border say such companies have little incentive to import U.S. products that would compete with their own. According to the U.S. producers, this restricts their access to the Canadian market. Their evidence for that claim: Canadian trade statistics showing tariff-free imports from the U.S. have almost never reached the quota limits in any category. WATCH | What Donald Trump gets wrong (and right) about Canada's dairy tariffs: Is Trump right about Canada charging 250% dairy tariffs? | About That 4 months ago President Donald Trump says Canada has been ripping off the United States, imposing tariffs of up to 400 per cent on imported American dairy products. Andrew Chang breaks down Trump's claims, explaining how dairy tariffs work and how likely it is that anyone is actually paying such sky-high charges. Images supplied by Reuters, Getty Images and The Canadian Press. Additional credits (Credit: 9:17 Skotidakis/Facebook), (Credit: 9:21 Elite Dairy). "For five years, Canada's been playing games with these tariff rate quotas," said Morris. "That's a lot of volume that should have been able to reach Canadian consumers." Despite those complaints, Canada's imports of U.S. dairy products have risen significantly since the CUSMA quotas took effect in 2020. Those imports totalled $897 million in 2024, according to Statistics Canada data, more than four times the value of imports in any year before 2020. "Trade certainly should be far higher than it is," said Morris. "That was what USMCA promised to deliver and quite frankly has fallen far short." A key change the U.S. producers would like to see is for Canada to grant retailers and the food-service sector a share of the tariff-free quotas, allowing them to import some U.S. dairy products directly. The U.S. industry also wants Canada to be far stricter in taking away allocations from importers that fail to use their full quota in a given year. While a bill that Parliament passed in June bars Ottawa from agreeing to raise the dairy import quotas or lower the tariffs, it doesn't prevent other changes to the system, leaving Canadian trade negotiators some wiggle room. WATCH | Canada's supply management system, explained: How Canada's dairy supply management system works — and why Trump hates it 6 months ago 'An inherent mismatch' The other chief complaint from the U.S. focuses on Canada's cheap exports of milk proteins, also described as milk solids, such as skim milk powder. The Americans argue that because Canada's supply management system keeps domestic prices artificially high, Canada can sell its excess production of milk proteins internationally at artificially low prices, undercutting the competition. "It frankly makes no sense that you could have one of the highest milk prices in the world and yet be exporting dairy protein at some of the lowest prices globally," said Morris. "That's just an inherent mismatch." Canada's pricing of milk solids for the export market is currently the subject of a U.S. International Trade Commission investigation, ordered by the Trump administration, with a hearing scheduled for Monday. Dairy Farmers of Canada declined a request for comment on the case. "During the recent election, all major parties expressed support for supply management and stated that it would be off the table in upcoming trade negotiations," the organization said in a news release in June. The Trump administration is not the first to accuse Canada of breaching CUSMA terms on dairy. Joe Biden's administration twice took legal action over Canada's handling of the dairy quotas, claiming it was unfairly undermining U.S. access to the Canadian market. The U.S. won the first dispute, which it launched in 2021, but failed to win the second, in 2023. Now in 2025, Rasdall Vargas says her industry wants Canada to be willing to hear its true concerns and do something about them. "Ultimately, when we have a trading partner who isn't taking our concerns seriously until they're threatened to do so, it's also not a good feeling from our side," she said. Whatever anyone thinks about Trump's bluster on Canadian dairy, Rasdall Vargas believes it's having an impact. "I think that's the president's way of having our back, probably more abrasively than Canada would like," she said.
