IRH, ZCCM-IH reaffirm commitment to Zambian project

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Abu Dhabi-based natural resources investment platform International Resources Holding (IRH) and Zambian mining and energy investment holding company ZCCM Investments Holdings (ZCCM-IH) have reaffirmed their long-term partnership and shared ambition to advance the development of Mopani Copper Mines (MCM), 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 MCM's next phase of growth.
This partnership is backed by IRH's existing $1.1-billion investment commitment towards MCM's operational and development requirements, including equity, shareholder funding and additional operational support.
Since IRH became MCM's majority shareholder in 2024, the company says it 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 t/y of finished copper by 2029.
IRH holds a 51% shareholding in Mopani, with ZCCM-IH holding the remaining 49%.
IRH points out that more than 99% of the workforce is Zambian, and many families in Kitwe, Mufulira and across the Copperbelt rely on MCM for their livelihoods.
Both shareholders have affirmed their commitment to safeguarding jobs and maintaining high standards of health and safety.
Beyond the mine, MCM 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, IRH highlights.
To date, Mopani has spent over $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 three-million tonnes a year.
Beyond MCM, IRH and ZCCM-IH say they 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.
"Our investment in MCM 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 MCM: to build a stronger, more productive operation that can play an increasingly important role in Zambia's copper industry," says IRH CEO Ali Rashed Alrashdi.
"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," says ZCCM-IH chairperson Phesto N. Musonda.
The reaffirmed partnership follows recent engagements between IRH, ZCCM-IH and the Zambian leadership, including a meeting in Abu Dhabi between Alrashdi and Zambia President Hakainde Hichilema, at which MCM's development and Zambia's broader copper ambitions were discussed.