Abu Dhabi, UAE – 21 July 2025: – 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 on 18th July 2025, revealed a 35% increase in ore production, alongside an 14% rise in copper grades and a 54% boost in contained copper output in first half of 2025 vis a vis first half of 2024. The cathode production increased by 103% compared to the first half of 2023 pre-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 driving Mopani’s financial stability and operational turnaround. It is not just the scale of funding, but also IRH’s strong operational capabilities that have played a pivotal role in delivering tangible improvements at Mopani. These capabilities have helped stabilize the business, improve performance, and lay the foundation for future growth. Building on this momentum, Mopani is now targeting an ambitious copper production goal of 300,000 tons per year by 2029. An airborne geophysical survey is underway to identify additional reserves that could extend the life of the mine beyond 30 years.
Ali AlRashdi, Chief Executive Officer of International Resources Holding, said:
“This is a proud moment for IRH and for the UAE, 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 fifty million tonnes (Mt) 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.”
Ravi Sharma, Chief Operating Officer of International Resources Holding and Chairman of Mopani Copper Mines, said:
“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, 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 modernized our operations, digitised our mines, and built momentum to turnaround the operations. We maintained the Zambian workforce talent to 99.2% alongside with 0.8% of Expatriats 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 has been pumped into Zambian economy worth $685 million out of which $311 million is awarded to Local Zambian company’s and $374 million to Zambian registered foreign companies. Health and education initiatives, including a $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.
Website: www.irh.ae.com
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 innovative technologies to increase production and improve efficiency. 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.
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