International Resources Holding (IRH) and ZCCM Investments Holdings Plc (ZCCM-IH) are exploring new mining and exploration opportunities across Zambia as they reaffirm their partnership at Mopani Copper Mines.
In a joint announcement issued on 14 October 2026, the shareholders said their work beyond Mopani aims to increase mineral production, attract investment and support growth across Zambia’s mining industry.
IRH became Mopani’s majority shareholder in 2024 and holds 51% of the company, while ZCCM-IH retains 49%.
“Our focus is timely delivery that brings higher production, secure jobs, more opportunities for Zambian suppliers and real improvements in surrounding communities” — Phesto N. Musonda, Board Chairperson, ZCCM-IH
US$1.1 billion commitment reaffirmed
IRH reaffirmed its existing US$1.1 billion commitment to Mopani’s operational and development requirements. The package includes equity, shareholder funding and additional operational support.
The shareholders said they remain aligned on Mopani’s next phase of development and will work through their established governance framework to strengthen the operation.
Mopani targets 300,000 tonnes a year by 2029
According to the announcement, Mopani’s contained copper production increased by 63% between 2023 and 2025.
Mopani continues to target annual finished copper production of 300,000 tonnes by 2029. Its expansion is intended to contribute to Zambia’s national ambition of producing 3 million tonnes of copper a year.
Jobs and local suppliers remain priorities
More than 99% of Mopani’s workforce is Zambian. Both shareholders identified job security, health and safety, and investment in skills and training as priorities for the operation and the communities that depend on it.
The announcement says Mopani has spent more than US$685 million with over 1,300 Zambian companies across its supply chain to date. The company also supports healthcare, agriculture, skills development and local enterprise initiatives.
Partnership extends beyond Mopani
The wider collaboration remains focused on exploring opportunities in mineral exploration and mining operations. The announcement does not identify specific new projects or disclose a separate investment value for those opportunities.
The renewed commitment follows engagements between IRH, ZCCM-IH and Zambia’s leadership, including a meeting in Abu Dhabi between IRH chief executive Ali Rashed Alrashdi and President Hakainde Hichilema on Mopani’s development and the country’s copper ambitions.