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 commitment to advancing the development of Mopani Copper Mines (MCM).

The two shareholders aim to strengthen operational performance, increase copper production and deliver lasting benefits for employees, host communities and Zambia’s broader economy.

Following constructive discussions, both parties reaffirmed their alignment on key priorities and their commitment to working through established governance structures to support Mopani’s next phase of growth.

The partnership is backed by IRH’s existing $1.1-billion investment commitment to Mopani’s operational and development requirements, including equity, shareholder funding and additional operational support.

Mopani Targets Higher Copper Production

Since IRH became Mopani’s majority shareholder in 2024, the company has reported progress in rebuilding its operations. Contained copper production increased by 63% between 2023 and 2025, while the mine continues to target annual production of 300,000 tonnes of finished copper by 2029.

IRH holds a 51% stake in Mopani, with ZCCM-IH retaining the remaining 49%.

Both shareholders have emphasised the importance of maintaining operational stability, protecting employment and upholding high standards of health and safety. More than 99% of Mopani’s workforce is Zambian, with many households in Kitwe, Mufulira and across the Copperbelt dependent on the mine for their livelihoods.

Supporting Local Suppliers and Communities

Beyond its mining operations, Mopani continues to support community development through initiatives focused on healthcare, agriculture, skills development and local enterprise.

The company has also directed significant spending towards domestic businesses. According to IRH, Mopani has spent more than $685-million with over 1,300 Zambian companies across its supply chain, highlighting the mine’s contribution to local enterprise and economic participation.

The shareholders reaffirmed their commitment to continued dialogue and constructive engagement as they pursue their shared objectives for Mopani and support Zambia’s ambition to increase national copper production to three million tonnes a year.

Exploring Further Mining Opportunities in Zambia

Beyond Mopani, IRH and ZCCM-IH are exploring additional collaboration opportunities in mineral exploration and wider mining operations.

The proposed areas of cooperation aim to increase mineral production, attract investment and unlock further growth opportunities across Zambia’s mining industry.

IRH CEO Ali Rashed Alrashdi said the investment reflects a long-term commitment to both Mopani and Zambia.

“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,” he said.

ZCCM-IH chairperson Phesto N. Musonda highlighted the mine’s importance to local livelihoods and the national economy.

“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,” he said.

Partnership Supports Zambia’s Copper Ambitions

The reaffirmed partnership follows recent engagements between IRH, ZCCM-IH and Zambian leadership, including a meeting in Abu Dhabi between Alrashdi and Zambian President Hakainde Hichilema.

Discussions included Mopani’s development plans and Zambia’s broader copper production ambitions.

With continued investment, operational improvements and potential new mining collaborations, IRH and ZCCM-IH aim to strengthen Mopani’s contribution to Zambia’s mining industry while supporting employment, local suppliers and long-term economic growth.