ZCCM-IH and IRH Align on Mopani’s Future as USD 1.1 Billion Commitment Reaffirmed

ZCCM-IH and International Resources Holding (IRH) have restated their shared commitment to the long-term development of Mopani Copper Mines, as IRH reaffirmed its USD 1.1 billion investment in the operation.

The investment will support Mopani’s operational and development needs, including equity, shareholder funding and further operational support. It comes as the mine works towards a target of 300,000 metric tonnes of finished copper a year by 2029.

The two shareholders say they remain aligned on increasing production, improving operational performance and delivering lasting benefits for workers, local businesses and the wider economy.

ZCCM-IH Board Chairperson Phesto Musonda said Mopani is more than a mine, having sustained jobs, skills and livelihoods in Kitwe, Mufulira and across the Copperbelt for generations. He said the priority is to raise production, secure jobs, expand opportunities for Zambian suppliers and improve the welfare of surrounding communities.

In a statement to ZNBC News, IRH Chief Executive Officer Ali Rashed Alrashdi said the investment demonstrates IRH’s long-term commitment to Mopani and to Zambia. He said the partnership with ZCCM-IH aims to build a stronger, more productive operation that can play a greater role in Zambia’s copper industry.

The renewed commitment follows recent engagements between the two shareholders, including a meeting in Abu Dhabi between Mr Alrashdi and President Hakainde Hichilema.

For the Copperbelt, the message is clear: both partners are focused on turning Mopani’s potential into production, jobs and opportunity for Zambians.