Abu Dhabi, UAE – 22 March 2024 – International Resources Holding (IRH) is excited to formally announce the completion of its acquisition of Mopani Copper Mines in Zambia. Celebrated with an unveiling ceremony in Kitwe, under the patronage of President Hakainde Hichilema, this move represents a significant milestone in IRH’s expansion within the global mining landscape.
Positioned at the epicenter of Zambia’s copper-rich region, Mopani Copper Mines exemplifies IRH’s strategic intent to invest in premium mining assets that align with its dedication to sustainable and economically beneficial mining practices.
This substantial investment showcases IRH’s drive for impactful economic contributions, including job creation, workforce stability, and expanded business prospects within Zambia’s mining sector.
Syed Basar Shueb, CEO of International Holding Company, shared his eagerness regarding the new partnership: “We are immensely pleased to announce the official integration of Mopani Copper Mines into our portfolio. This venture is a key part of our strategic vision to support and grow high-value assets, as well as to deploy our expertise in fostering resource management that is both responsible and sustainable.”
Ali Rashdi, CEO of International Resources Holding, commented on the acquisition with great optimism: “Today we celebrate a landmark cooperation with Mopani Copper Mines. This acquisition marks a crucial step in our strategic journey in the mining industry, emphasizing our unyielding dedication to innovation, eco-friendly practices, and collaborative advancement.”
The integration of Mopani Copper Mines is set to enhance a legacy of mining excellence, backed by a committed and skillful workforce. IRH will endeavor to continue this tradition, promoting a spirit of ingenuity, operational efficiency, and conscientious governance.
With the acquisition process now complete, IRH and Mopani Copper Mines are poised to commence a thrilling period of growth and positive transformation in the Zambian mining industry, leaving a tangible and sustainable impact on the sector and its communities.
About International Resources Holding:
International Resources Holding (IRH) is the mining vertical arm and subsidiary of 2 Point Zero based in Abu Dhabi, UAE. A dynamic and diversified conglomerate focusing on unlocking the mineral value chain in Upstream, Midstream and Downstream processes, enhancing in-country value addition across Africa and beyond, and successfully forging comprehensive ecosystems through strategic collaborations with various national governments.
IRH’s strategic interest is to focus on energy transition minerals such as (Copper, Cobalt, Nickel, Manganese & Graphite), Rare earth metals & 3T (Tin, Tantalum & Tungsten).
IRH has a full technical team of professionals included but not limited to Geologists, Mining Engineers, Geophysicists, Metallurgists & Finance analysts with experience across 26 commodities.
About International Holding Company (ADX: IHC)
IHC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE and has grown to become the most valuable listed holding company in the Middle East with a market cap of AED 876 billion as of December 31, 2023. The company implements sustainability, innovation, and economic diversification initiatives across what is now one of the region’s largest conglomerates. IHC is included in FTSE ADX 15 Index (FADX 15), representing the top 15 largest and most liquid companies on the ADX.
IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 500 subsidiaries and over 150,000+ employees, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Asset management, Healthcare, Real Estate and Construction, Marine and Dredging, IT and Communications, Financial Services, Food Production and Service, Utilities, and Services.
With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes and new opportunities arise, IHC remains focused on resilience, innovation, and redefining the marketplace for itself, its clients, and its partners. www.ihcuae.com
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Mary Khamasmieh
Head of Government Communications
Weber Shandwick
+971 50 2731 753
mkhamasmieh@webershandwick.com
