Latest news with #MopaniCopperMines
Al Etihad
6 days ago
- Business
- Al Etihad
UAE-backed IRH's investment drives revival of Zambia's Mopani Copper Mines
23 July 2025 11:54 ABU DHABI (ALETIHAD)A transformative investment led by the UAE's International Resources Holding (IRH) has fuelled a strong revival at Zambia's Mopani Copper Mines, one of Africa's most strategically important copper assets. A year after IRH became Mopani's majority shareholder, production is up, jobs have been created, and long-term expansion plans are underway. Mopani's latest operational update, presented to suppliers and community leaders in Kitwe on July 18, 2025, revealed a 35% increase in ore production, alongside a 14% rise in copper grades and a 54% boost in contained copper output in the first half of 2025 compared to the same period in production surged by 103% versus the first half of 2023, prior to the acquisition. Since 2024, IRH has invested over $1.1 billion into Mopani, including $620 million in equity and $400 million in long-term funding. This substantial investment has been instrumental in securing Mopani's financial stability and driving operational improvements. It is not only the scale of investment, but also IRH's strong operational capabilities that have stabilised the business, improved performance, and laid the groundwork for future growth. Building on this momentum, Mopani is now targeting an ambitious copper production goal of 300,000 tonnes per year by 2029. An airborne geophysical survey is currently underway to identify additional reserves that could extend the life of the mine beyond 30 years. 'This is a proud moment for IRH and for the UAE,' said Ali AlRashdi, Chief Executive Officer of International Resources Holding.'Our partnership with ZCCM-IH in Mopani is a model for long-term, responsible investment. We are creating jobs, building capacity, and supporting Zambia's position in the global energy transition. Global copper demand is forecast to grow by around 70% to over 50 million tonnes a year by 2050 as the green energy transition accelerates, and our investment in Mopani means the mine can be at the forefront of enabling this change. This is the kind of impact we strive for as part of our international growth strategy.''Over the past six months, our analysis has revealed the potential to scale production to 500,000 tonnes of cathode and 28.5 million tonnes of ore,' said Ravi Sharma, Chief Operating Officer of IRH and Chairman of Mopani Copper Mines.'The economic impact - in terms of job creation and investment -speaks for itself. The progress we have made over the past year is the result of sharp vision and close collaboration. We have modernised our operations, digitised our mines, and built momentum to turnaround the operations. We maintained the Zambian workforce talent to 99.2%, alongside 0.8% of expatriates constituting strong operational turnaround skills.' Charles Sakanya, CEO of Mopani Copper Mines, described the turnaround as evidence of a shared commitment to performance and partnership, 'The next phase will be even more exciting-for Mopani, for our people, and for Zambia.' Mopani now employs over 13,000 people, having created 2,293 new roles since March 2024. The company's vendor strategy has also prioritised local value, with 80% of procurement spend in 2025 - totalling $685 million - flowing into the Zambian economy. Of this, $311 million was awarded to local Zambian companies and $374 million to Zambian-registered foreign firms. Health and education initiatives are also underway, including a $14.8 million investment in hospital Mopani's digitisation programme has made it one of the most technologically advanced mines in the region, with real-time monitoring systems, AI-supported grade control, and predictive maintenance has increased operational efficiency and safety while reducing costs. The mine's wifi infrastructure now reaches 2km underground. The Mopani investment forms part of IRH's broader strategy to develop long-term resource partnerships across Africa, with a strong emphasis on sustainability, localisation, and industrial development. The initiative aligns with the UAE's expanding investment footprint on the continent and reflects Abu Dhabi's commitment to responsible international growth.
Zawya
21-07-2025
- Business
- Zawya
UAE-Backed Investment drives revival of Zambia's Mopani Copper Mines
Abu Dhabi, UAE – A transformative investment led by the UAE's International Resources Holding (IRH) has helped deliver a strong revival at Zambia's Mopani Copper Mines, one of Africa's most strategically important copper assets. A year after IRH became Mopani's majority shareholder, production is up, jobs have been created, and long-term expansion plans are now underway. Mopani's latest operational update, presented to suppliers and community leaders in Kitwe, revealed a 14% increase in ore production to 2.59 million tonnes, alongside an 18% rise in copper grades and a 23% boost in contained copper output to 47.2 thousand tonnes. A World Bank Report published on 9 July identified the revival of Mopani as a contributing factor in Zambia's 4% GDP growth in 2024. These gains have been underpinned by over $1.1 billion in investment from IRH since 2023, including $620 million in equity capital and $400 million in long-term funding. Further expansion is planned, with Mopani targeting copper output of 300,000 tonnes per year by 2029. A new airborne geophysical survey is underway to identify additional reserves that could extend the life of the mine by more than 30 years. "This is a proud moment for IRH and for the UAE," said Ali AlRashdi, Chief Executive Officer of International Resources Holding. "Our partnership with Mopani is a model for long-term, responsible investment. We are creating jobs, building capacity, and supporting Zambia's position in the global energy transition. Global copper demand is forecast to reach 4.5 million tonnes by 2030 as the green energy transition accelerates, and our investment in Mopani means the mine can be at the forefront of enabling this change. This is the kind of impact we strive for as part of our international growth strategy." Charles Sakanya, CEO of Mopani Copper Mines, described the turnaround as evidence of a shared commitment to performance and partnership: "The progress we have made over the past year is the result of clear vision and close collaboration. With IRH's support, we've modernised our operations, digitised our mines, and built momentum. The next phase will be even more exciting — for Mopani, for our people, and for Zambia." Mopani now employs over 13,000 people, having created more than 2,300 new roles since 2024. The company's vendor strategy has also prioritised local value, with 90% of procurement spend in 2025 so far awarded to Zambian businesses – worth $436 million. Health and education initiatives, including an $14.8 million investment in hospital upgrades, are also underway. Mopani's digitisation programme has made it one of the most technologically advanced mines in the region, with real-time monitoring systems, AI-supported grade control, and predictive maintenance infrastructure – which has increased the mine's operating efficiency and safety performance, whilst also reducing costs. Mopani's wifi infrastructure now reaches 2km underground. The Mopani investment forms part of IRH's broader strategy to develop long-term resource partnerships across Africa, with a strong emphasis on sustainability, localisation, and industrial development. The initiative aligns with the UAE's growing investment footprint on the continent and reflects Abu Dhabi's commitment to responsible international growth. About International Resources Holding International Resources Holding (IRH), a subsidiary of 2PointZero, founded in 2022, is a dynamic natural resources extractive company with a portfolio of diverse Metals and Minerals. Operating in the entire mining value chain, IRH undertakes upstream, midstream and downstream processes. We embrace the highest standards of safety for people and processes and create in-country value for the communities and countries we partner with through responsible mining practices, social investments, and respect for ecosystem sustainability. About Mopani Copper Mines PLC Mopani Copper Mines PLC is a Zambian-registered integrated mining investment with operations in Kitwe and Mufulira districts of the Copperbelt Province in the Republic of Zambia. The company's operations encompass the full range of the copper production chain: from extracting the ore underground to concentrating, smelting, refining and packaging the finished cathode for export. Mopani Copper Mines PLC is 51 percent owned by Delta Mining Limited, a subsidiary of International Resources Holding of the United Arab Emirates and 49 percent ZCCM Investment Holdings PLC, a diversified mining investments and operations holding company of Zambia. IRH acquired the 51 percent shareholding in 2024 from ZCCM-IH, which had wholly owned Mopani from 2021 after buying off the previous majority stake in the mine from Carlisa Investments – a joint venture between Swiss commodity trader Glencore and Canadian-based First Quantum Minerals. Carlisa Investments ran Mopani from privatisation in 2000. With a rich history in mining and processing dating back to the 1930s, Mopani Copper Mines PLC's assets in Kitwe and Mufulira include underground mines, concentrators, a smelter and a refinery. The company has continued upgrading its infrastructure by investing in new technologies to increase production and improve efficiencies. The new infrastructure includes three deep shafts (Synclinorium, Mindola and Henderson), which were sunk and equipped between 2014 and 2021 to extend the life of the mine by over 25 years, safeguard the existing jobs at both mine sites and ensure Mopani's continuous contribution to Zambia's economic development. Mopani Copper Mines PLC remains committed to supporting the social-economic development of the host communities through its robust Corporate Social Responsibility (CSR) programmes. The company supports the development of sports, local enterprises, education, health, basic infrastructure as well as water and sanitation in the communities of Kitwe and Mufulira.
Bloomberg
26-06-2025
- Business
- Bloomberg
Zambia Court Adjoins ZCCM to Sampa's Challenge on Mopani Sale
A Zambian court adjoined the state-owned copper-mining company to a case brought by an opposition lawmaker challenging the sale of Mopani Copper Mines. ZCCM Investments Holdings Plc was joined to the petition challenging the 2024 transaction on June 20, it said in a regulatory statement Thursday.
Reuters
04-06-2025
- Business
- Reuters
UAE firm IRH buys majority stake in Congo tin miner Alphamin
June 4 (Reuters) - UAE-based International Resources Holding has agreed to buy a controlling stake in major tin producer Alphamin Resources (AFM.V), opens new tab for C$503 million ($367 million), it said on Wednesday, as the firm expands its presence in African mining. IRH, a unit of International Holding Co ( opens new tab, entered into an agreement to buy a 56% stake in Alphamin from Tremont Master Holdings, paying C$0.70 per share or about $367 million, the companies said in a joint statement. Alphamin owns Bisie tin mine in the Democratic Republic of Congo's eastern region, which is also rich in minerals including tantalum, tungsten and coltan. Alphamin's Bisie mine produces about 6% of global tin supplies annually. Alphamin's production profile "aligns with our strategy of securing interests in high-quality mining assets," IRH CEO Ali Alrashdi said in the statement. The UAE firm last year concluded a deal to buy a 51% stake in Zambia's Mopani Copper Mines for $1.1 billion. Since then, IRH has said it is seeking deals for critical minerals in Zambia and Congo. Major oil producers the UAE and also Saudi Arabia are seeking to diversify their sources of income and secure critical metal supplies from Africa and Latin America to allow them to benefit from the transition to green energy. Tin is used in electronics, renewable energy, and semiconductors. Alphamin was earlier this year forced to temporarily halt mining at Bisie as Rwanda-backed rebels M23 made advances in the vicinity of its Bisie mine.
CTV News
27-05-2025
- Business
- CTV News
Ontario Mine Rescue teaches Zambian delegates about hosting a competition
A group of mine rescue workers is in Sudbury this week to learn the ins and outs of putting on a major mine rescue competition. Eighteen mining professionals from Zambia are in Sudbury this week learning how to host a mine rescue competition. The group is being taught by Ontario Mine Rescue at Workplace Safety North. Zambia mine rescue Eighteen mining professionals from Zambia are in Sudbury this week learning how to host a mine rescue competition. (Amanda Hicks/CTV News) 'They are here just to wrap their head around: how do you organize a mine rescue competition and the planning process and all that goes into hosting?' said Shawn Rideout, Ontario Mine Rescue chief mine rescue officer and lead instructor. 'Essentially, what is an international mock emergency?' The group is primarily emergency response workers, as well as a public relations officer and a medical doctor. Rideout said the group is here to learn about hosting large competitions. 'What they're unfamiliar with is the actual planning process,' he said. 'So, everything that goes into hosting essentially 26 to 28 mine rescue teams from around the world.' Zambia will host the International Rescue Competition in April 2026, the first time the event is being held in Africa. 'We want to do the best we can' Christopher Chileshe, manager of training and development at Mopani Copper Mines, also runs the training centre where most of the competition will be held. 'There's a lot of expectation and obviously a lot of nervousness, as well, because we don't want to embarrass the company. We don't want to embarrass the government. We don't want to embarrass the continent,' Chileshe said. 'We want to do the best we can. And the only way to get this is preparation. So, we really see this visit here as key to everything that we do.' He said there is a lot of pressure to get everything done right. 'The president is being made aware now that there was this thing happening. That's like an Olympic-scale event, even though it's just one sector in mining,' Chileshe said. 'At the end of the day, mining is the biggest sector in the country, you know, so anything to do with mining is of national importance.' Monday was the first day of training, and Chileshe said it has been helpful so far. Lots of work ahead 'I think just from this visit today, we know we are talking some pretty serious expertise here and a lot of what (Rideout) has already shared with us tells us there's a lot of work to do,' he said. 'We will make sure that we kind of just keep with that ethos of just keeping the competition getting better and better year on year. So, yes, we are in the right place, that is for sure.' Ontario Mine Rescue hosted an international competition of its own in 2016, hosting 13 nations and 27 teams. The organization frequently establishes similar competitions on a smaller scale. 'You have teams from China and Germany and South Africa and Australia,' Rideout said. Organizers have to do everything from book hotels and meeting spaces to ensuring there are food and beverages. 'Then the main event which is the mock emergency,' he said. 'So, setting that event up in a realistic atmosphere. So, they're leaning towards hosting it underground as we did in 2016. So setting up a mine that can host that scale of event and host that many people.' Ontario Mine Rescue also is a sitting board member of the International Mine Rescue Board. 'Just recently we were over in Poland and we put together an IMC, so International Mine Rescue Competition rules committee,' Rideout said. 'So, what we're going to do is write a standardized set of rules. So, countries moving forward that host the event … have a starting point -- they're not starting from scratch.' The group will be in the northeast for the next two and a half weeks. They will be in Timmins next week for the provincial competition. Chileshe said for some, it's their first time visiting Canada. 'We weren't sure what to expect,' he said. 'We've loved what we've seen here. You know, the people seem lovely. That's been great. And the weather's been kind as well, you know? So, it's just been lovely.'
