Mopani Backer IRH Eyes More Zambian Mines: Gulf Investor and State Firm Explore New DealsMopani Backer IRH Eyes More Zambian Mines: Gulf Investor and State Firm Explore New Deals
Key Highlights
- Abu Dhabi's International Resources Holding and Zambia's ZCCM-IH said on 14 October they are exploring new opportunities for collaboration in mineral exploration beyond the Mopani copper mine.
- IRH holds 51% of Mopani and pledged KSh 142.67B ($1.1B) to revive it, while the mine produced 66,369 tonnes of copper in 2025.
- Mopani forecasts 300,000 tonnes a year by 2029, central to Zambia's goal of 3 million tonnes of annual copper output by 2031.
International Resources Holding (IRH) and Zambia's ZCCM Investments Holdings said on 14 October that they are exploring new mining opportunities together, extending a partnership that began with the Mopani copper mine.
The statement suggests a Gulf investor wants a larger footprint in Zambia as the country chases a tripling of copper output, with no new asset, price or timetable announced yet.
What the companies said
According to Reuters, the joint statement said "IRH and ZCCM-IH are also exploring new opportunities for collaboration in mineral exploration." The two companies did not name a mine, a target or a deal value in the statement as reported.
IRH belongs to Abu Dhabi-based 2PointZero Group. It bought a 51% stake in Mopani Copper Mines in 2024, three years after Zambia took control of the mine, and pledged $1.1B (KSh 142.67B) to revive it. ZCCM-IH is Zambia's government-linked mining investment company and IRH's partner in the statement.
Mopani's output and Zambia's target
Mopani produced 66,369 tonnes of copper in 2025, according to the Reuters report. It forecasts annual output of 300,000 tonnes by 2029, which would be more than four times the 2025 level.
The mine is central to Zambia's goal of producing 3 million tonnes of copper a year by 2031. IRH also acquired a controlling stake last year in Alphamin Resources, the tin producer that owns the Bisie mine in the Democratic Republic of Congo.
Approvals and funding still to come
Mining investment depends on funding and on stable fiscal terms. As Mwenendo earlier reported, Zambia and IMF staff agreed a three-year loan deal that aims to lift revenue and reduce tax exemptions, which investors in the sector will watch closely.
The wider growth backdrop also matters. The IMF has said that Africa's growth risks remain tilted to the downside, including from energy disruption. A new mining deal would still need government approvals and financing, and neither company has said when an agreement might be announced. Amounts converted at about KSh 129.70 to the dollar.
In Summary
- Who is involved?
- International Resources Holding (IRH), part of Abu Dhabi's 2PointZero Group, and Zambia's ZCCM-IH.
- What did they announce?
- That they are exploring new opportunities for collaboration in mineral exploration, beyond the Mopani copper mine.
- When was the statement issued?
- On Wednesday 14 October 2026.
- Where is the Mopani mine?
- In Zambia. IRH also controls the Bisie tin mine through Alphamin in the Democratic Republic of Congo.
- Why does it matter?
- Mopani is central to Zambia's goal of 3 million tonnes of copper a year by 2031; it produced 66,369 tonnes in 2025.
- How much has IRH committed?
- IRH holds 51% of Mopani and pledged KSh 142.67B ($1.1B) to revive it; no new deal value has been given.