ZCCM Investments Holdings Plc (ZCCM-IH) says it remains committed to working with International Resources Holding (IRH) to strengthen Mopani Copper Mines and deliver higher production, secure jobs and increased opportunities for Zambian suppliers.
The partnership is backed by IRH’s existing US$ 1.1 billion investment commitment towards the company’s operational and development requirements, including equity, shareholder funding and additional operational support. Since IRH became Mopani’s majority shareholder in 2024, the company has made steady progress in rebuilding its operations.
The reaffirmed 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 President Hakainde Hichilema, at which Mopani’s development and Zambia’s broader copper ambitions were discussed.
Since IRH became Mopani’s majority shareholder in 2024, the company 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 tonnes of finished copper a year by 2029. IRH holds a 51% shareholding in Mopani, with ZCCM-IH holding the remaining 49%.
Beyond the mine, Mopani 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. Its growth is also driving economic activity across the country: to date, Mopani has spent more than USD 685 million with over 1,300 Zambian companies across its supply chain.
ZCCM-IH Board Chairperson, Phesto Musonda noted that Mopani has for a long time 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,” he said.
“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 IRH and ZCCM-IH remain committed to working together to support Mopani’s continued development, the welfare of its employees and communities, and Zambia’s position as a major global copper producer.
And IRH Chief Executive Officer, Ali Rashed Alrashdi, said the company’s investment in Mopani 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 Mopani: to build a stronger, more productive operation that can play an increasingly important role in Zambia’s copper industry,” he added.
Both shareholders are committed to safeguarding jobs, maintaining high standards of health and safety, and continuing to invest in skills and training so that Zambians can build long and rewarding careers in the industry.
They 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 3 million tonnes a year. Their partnership continues to be guided by a shared focus on operational progress, long-term investment and the sustainable development of Zambia’s mining sector.
Beyond Mopani, IRH and ZCCM-IH 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
