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The US$1.1 billion investment from IRH marked a significant milestone, being the first substantial investment from the UAE in Zambia, with more expected in green energy and other sectors. To support local suppliers, Mopani initiated a Supplier Development Program aimed at bolstering the capacity of Zambian suppliers by providing access to capital and business development services
The Ministry of Mines and Minerals Development of Zambia has expressed gratitude to the new investor, International Resources Holding (IRH) for the commitment to Mopani Copper Mines. Minister of Mines and Minerals Development, Paul Kabuswe says the Government and the new investor are working in partnership to revitalize Mopani copper mines.
Mr Kabuswe said significant investments have been made in Mopani Copper Mines and the deal has significantly benefited Zambia with a fair shareholding structure now in place.
Meanwhile, Mr Kabuswe has disclosed that the Ministry of Mines has coordinated with other ministries such as Labor and Commerce to ensure alignment in its effort to support the mining sector and its stakeholders. Mr Kabuswe added that recent negotiations between the union and Mopani management regarding workers’ conditions are ongoing.
President Hakainde Hichilema officially unveiled International Resources Holding, the new strategic equity partner for Mopani Copper Mines last month. This deal promises not only to invigorate Kitwe but also to uplift livelihoods across the Copperbelt and beyond.
President Hichilema emphasized the importance of Mopani as a crucial asset for Zambia’s economic prosperity. He stressed that Mopani should not be viewed as a burden but rather as a beacon of growth and opportunity. This sentiment was echoed by various stakeholders, including local leaders and mining union representatives.
The US$1.1 billion investment from IRH marked a significant milestone, being the first substantial investment from the UAE in Zambia, with more expected in green energy and other sectors. To support local suppliers, Mopani initiated a Supplier Development Program aimed at bolstering the capacity of Zambian suppliers by providing access to capital and business development services.
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Moreover, the significant reduction of Mopani’s debt from US$1.5 billion to US$576 million under the UPND administration underscores a commitment to financial stability and responsible management.
