- Following constructive discussions, IRH and ZCCM-IH remain aligned on the long-term development of Mopani Copper Mines and its contribution to Zambia’s copper ambitions.
- IRH reaffirms its USD 1.1 billion commitment to support Mopani’s development and ambition to reach 300,000 tonnes of finished copper production annually by 2029.
- The jobs, safety and welfare of Mopani’s workforce, more than 99% of whom are Zambian, remain a shared priority.
- Mopani’s growth supports Zambia’s national goal of 3 million metric tonnes of copper production a year.
- Beyond Mopani, IRH and ZCCM-IH are working on new opportunities in exploration and wider mining operations, reinforcing a shared commitment to growing Zambia’s mineral output.
Abu Dhabi, UAE and Lusaka, Zambia – 14 October, 2026. International Resources Holding (IRH), the Abu Dhabi-based natural resources investment platform, and ZCCM Investments Holdings Plc (ZCCM-IH), Zambia’s mining and energy investment holding company, have reaffirmed their long-term partnership and shared ambition to advance the development of Mopani Copper Mines Plc (Mopani), strengthen its operational performance and deliver lasting benefits for its employees, host communities and Zambia’s wider economy. Following constructive discussions, both shareholders reaffirmed their alignment on the priorities ahead and their commitment to working together through the established governance framework to support Mopani’s next phase of growth. This partnership is backed by IRH’s existing USD 1.1 billion investment commitment towards the company’s operational and development requirements, including equity, shareholder funding and additional operational support.
Since IRH became Mopani’s majority shareholder in 2024, the company has made steady progress in rebuilding its operations. Contained copper production increased by 63% between 2023 and 2025, and Mopani continues to target 300,000 tonnes of finished copper a year by 2029. IRH holds a 51% shareholding in Mopani, with ZCCM-IH holding the remaining 49%.
Putting Mopani’s people first
Mopani’s employees are at the heart of its future. More than 99% of the company’s workforce is Zambian, and many families in Kitwe, Mufulira and across the Copperbelt depend on Mopani for their livelihoods. Both shareholders are committed to safeguarding jobs, maintaining high standards of health and safety.
Supporting communities and local business
Beyond the mine, Mopani continues to invest in the communities in which it operates, supporting healthcare, agriculture, skills development and local enterprise initiatives that are creating broader opportunities for Zambians. Its growth is also driving economic activity across the country: to date, Mopani has spent more than USD 685 million with over 1,300 Zambian companies across its supply chain.
Both shareholders reaffirmed the importance of continued dialogue and constructive engagement as they work towards their shared objectives for Mopani and Zambia’s ambition to increase national copper production to 3 million tonnes a year. Their partnership continues to be guided by a shared focus on operational progress, long-term investment and the sustainable development of Zambia’s mining sector.
Beyond Mopani, IRH and ZCCM-IH are also exploring new opportunities for collaboration in mineral exploration and wider mining operations, with the aim of supporting increased mineral production, attracting investment and unlocking further growth opportunities across Zambia’s mining industry.
Ali Rashed Alrashdi, Chief Executive Officer of International Resources Holding, said:
“Our investment in Mopani 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 Mopani: to build a stronger, more productive operation that can play an increasingly important role in Zambia’s copper industry”
Phesto N. Musonda, Board Chairperson of ZCCM Investments Holdings Plc, said:
“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.”
The reaffirmed partnership follows recent engagements between IRH, ZCCM-IH and the Zambian leadership, including a meeting in Abu Dhabi between IRH CEO Ali Rashed Alrashdi and His Excellency Mr Hakainde Hichilema, President of the Republic of Zambia, at which Mopani’s development and Zambia’s broader copper ambitions were discussed.
IRH and ZCCM-IH remain committed to working together to support Mopani’s continued development, the welfare of its employees and communities, and Zambia’s position as a major global copper producer.
