International Resources Holding (IRH) and Zambia’s ZCCM Investments Holdings (ZCCM-IH) have reaffirmed their partnership to strengthen Mopani Copper Mines and expand Zambia’s copper production.

The renewed commitment is backed by IRH’s existing $1.1 billion investment pledge to support the mine’s operational and development needs, including equity, shareholder funding and additional operational assistance.

IRH, an Abu Dhabi-based natural resources investment platform, holds a 51% stake in Mopani, while state-owned ZCCM-IH retains 49%.

Since IRH became the majority shareholder in 2024, Mopani’s contained copper production has increased by 63% between 2023 and 2025. The company aims to produce 300,000 tonnes of finished copper annually by 2029.

The partnership comes as Zambia pursues its ambition to raise national copper production to three million tonnes a year.

Beyond production, the shareholders highlighted employment, worker safety and local economic participation as key priorities. More than 99% of Mopani’s workforce is Zambian, while the company has spent over $685 million with more than 1,300 Zambian businesses across its supply chain.

Mopani also supports community initiatives in healthcare, agriculture, skills development and local enterprise, particularly in Kitwe and Mufulira, where mining remains an important source of employment and livelihoods.

IRH CEO Ali Rashed Alrashdi said the investment reflected a long-term commitment to both Mopani and Zambia. He added that the partnership with ZCCM-IH was intended to build a more productive operation that could contribute more significantly to the country’s copper industry.

ZCCM-IH chairperson Phesto N. Musonda said the shareholders were focused on increasing production, protecting jobs and expanding opportunities for local suppliers.

He also emphasised the importance of delivering tangible benefits to communities around the mine.

The renewed commitment follows discussions involving IRH, ZCCM-IH and Zambia’s leadership, including a meeting in Abu Dhabi between Alrashdi and President Hakainde Hichilema to discuss Mopani’s development and the country’s wider copper ambitions.

The two shareholders are also exploring further cooperation in mineral exploration and other mining operations across Zambia.