IRH and ZCCM-IH Reaffirm $1.1 Billion Commitment to Mopani Copper Mines
Mopani Targets 300,000 Tonnes of Copper Annually by 2029 as IRH and ZCCM-IH Renew Partnership
International Resources Holding (IRH) and ZCCM Investments Holdings Plc (ZCCM-IH) have reaffirmed their long-term partnership to strengthen Mopani Copper Mines Plc’s operations, backed by IRH’s USD 1.1 billion investment commitment and a target of producing 300,000 tonnes of finished copper annually by 2029.
The two shareholders reaffirmed their alignment on Mopani’s development priorities following constructive discussions, emphasising operational performance, workforce welfare and the mine’s contribution to Zambia’s ambition of producing 3 million metric tonnes of copper annually.
Announced on 14 October 2026, the renewed commitment will be implemented through the companies’ established governance framework.
IRH’s USD 1.1 billion commitment covers equity, shareholder funding and additional operational support for Mopani’s operational and development requirements.
Since IRH became Mopani’s majority shareholder in 2024, the mine has made progress in rebuilding its operations.
Contained copper production increased by 63% between 2023 and 2025, while the company continues to pursue its target of reaching 300,000 tonnes of finished copper production annually by 2029. IRH holds a 51% stake in Mopani, with ZCCM-IH retaining the remaining 49%.
Workforce and Safety Remain Priorities
Both shareholders identified employee welfare, job security, health and safety, and skills development as key priorities for Mopani’s next phase of growth.
More than 99% of the mine’s workforce is Zambian, with employees and their families across Kitwe, Mufulira and the wider Copperbelt depending on the operation for their livelihoods.
IRH and ZCCM-IH committed to supporting the workforce through continued investment in skills and training, enabling Zambians to build long-term careers in the mining industry.
Local Suppliers and Communities Benefit from Growth
Mopani’s economic contribution extends beyond copper production, with the company supporting healthcare, agriculture, skills development and local enterprise initiatives in its host communities.
The mine has spent more than USD 685 million with over 1,300 Zambian companies across its supply chain, supporting local businesses and economic activity.
ZCCM-IH and IRH said their shared priorities included increasing production, creating opportunities for Zambian suppliers and delivering improvements in surrounding communities while generating lasting value for shareholders and the country.
Partnership Extends to Wider Mining Opportunities
Beyond Mopani, the two companies are exploring additional collaboration in mineral exploration and wider mining operations.
The proposed areas of cooperation are intended to support increased mineral production, attract investment and unlock further growth opportunities in Zambia’s mining sector.
The partnership follows recent engagements between IRH, ZCCM-IH and the Zambian leadership, including a meeting in Abu Dhabi between IRH Chief Executive Officer Ali Rashed Alrashdi and Zambia’s President, Hakainde Hichilema.
Discussions covered Mopani’s development and the country’s broader copper production ambitions.
Alrashdi said the investment represented a long-term commitment to both Mopani and Zambia, adding that IRH valued its constructive dialogue with ZCCM-IH and engagement with the country’s leadership.
He said the two shareholders shared an ambition to build a stronger, more productive operation that could play an increasingly important role in Zambia’s copper industry.
ZCCM-IH Board Chairperson Phesto N. Musonda said Mopani had sustained jobs, skills and livelihoods across the Copperbelt for generations.
He emphasised the importance of working through the joint governance framework to achieve higher production, secure jobs, expand opportunities for Zambian suppliers and improve surrounding communities.
IRH and ZCCM-IH reiterated their commitment to Mopani’s continued development, the welfare of its employees and host communities, and Zambia’s ambition to strengthen its position as a major global copper producer.
