KEY POINTS
- IRH and ZCCM-IH reaffirmed their long-term commitment to Mopani Copper Mines.
- IRH’s $1.1-billion investment commitment will support operations and development.
- Mopani targets 300,000 tonnes of finished copper annually by 2029.
International Resources Holding, IRH, and ZCCM Investments Holdings (ZCCM-IH) have reaffirmed their long-term partnership to expand production, improve operational performance and strengthen the contribution of Mopani Copper Mines to Zambia’s economy.
The two shareholders said they remained committed to developing the mining company, protecting jobs and delivering lasting benefits to employees, local communities and businesses across the country.
The renewed commitment is backed by IRH’s existing $1.1-billion investment pledge to support Mopani’s operational and development needs. The funding covers equity, shareholder financing and additional operational support.
The partnership comes as Zambia seeks to increase its copper production and strengthen its position in the global copper market, where demand is being driven by electrification, renewable energy and infrastructure development.
Mopani targets 300,000 tonnes of copper annually
Since IRH became Mopani’s majority shareholder in 2024, the company has recorded progress in rebuilding its operations, according to the investment group.
Contained copper production increased by 63% between 2023 and 2025, reflecting efforts to improve output and strengthen the mine’s operational capacity.
Mopani is targeting annual production of 300,000 tonnes of finished copper by 2029. Achieving that goal would represent a significant expansion of its contribution to Zambia’s mining industry.
IRH currently owns a 51% stake in Mopani, while state-owned ZCCM-IH holds the remaining 49%.
Both shareholders said they were aligned on the priorities for the mine’s next phase of growth and would continue working through their established governance framework to support the business.
The investment is intended to help Mopani improve productivity and develop its operations over the long term, rather than focus solely on short-term production gains.
Investment expected to support jobs and local businesses
The partnership also has significant implications for employment and economic activity in Zambia’s Copperbelt region.
More than 99% of Mopani’s workforce is Zambian, according to IRH. The company provides livelihoods for workers and their families in Kitwe, Mufulira and surrounding communities.
The shareholders said protecting jobs and maintaining strong health and safety standards remained important priorities as the company pursued higher production.
Mopani is also contributing to the local economy through procurement and business partnerships. The company has spent more than $685-million with over 1,300 Zambian companies across its supply chain.
This spending supports local suppliers and creates opportunities for businesses providing goods and services to the mining industry.
Beyond its direct economic contribution, Mopani continues to support community initiatives in healthcare, agriculture, skills development and local enterprise.
The shareholders said these programmes were intended to create wider economic opportunities and help ensure that the benefits of mining reach communities around its operations.
Partnership supports Zambia’s three-million-tonne copper ambition
The renewed commitment also aligns with Zambia’s ambition to increase national copper production to three million tonnes annually.
Achieving that target would require sustained investment in existing mines, improved operational efficiency, exploration and the development of additional mining projects.
IRH and ZCCM-IH said continued dialogue and cooperation would be essential to delivering their objectives for Mopani and supporting the country’s wider mining ambitions.
The two companies are also exploring opportunities to collaborate on mineral exploration and other mining operations across Zambia.
Such cooperation could help attract additional investment, increase mineral production and unlock further growth across the sector.
IRH chief executive officer Ali Rashed Alrashdi said the company’s investment reflected a long-term commitment to Mopani and Zambia.
He said the partnership with ZCCM-IH was built around a shared ambition to create a stronger, more productive mining operation that could play a greater role in the country’s copper industry.
ZCCM-IH chairperson Phesto N. Musonda said the priority was to deliver higher production, protect jobs, expand opportunities for Zambian suppliers and improve conditions in surrounding communities.
He added that Mopani had supported employment, skills and livelihoods across the Copperbelt for generations, making its future performance important to both shareholders and the wider population.
Talks with Zambia’s leadership reinforce commitment
The reaffirmed partnership follows recent engagements involving IRH, ZCCM-IH and the Zambian government.
These discussions included a meeting in Abu Dhabi between Alrashdi and Zambian President Hakainde Hichilema, during which the development of Mopani and the country’s broader copper production ambitions were discussed.
The engagement underscores the importance of cooperation between investors, state-owned enterprises and the government in advancing Zambia’s mining sector.
With IRH’s $1.1-billion investment commitment, rising production and a target of 300,000 tonnes of finished copper annually by 2029, Mopani remains central to the partners’ plans to strengthen Zambia’s copper industry and expand its economic benefits.
