International Resources Holding (IRH), an investment company based in Abu Dhabi, and Zambia’s state-owned ZCCM Investments Holdings are considering additional mining and mineral exploration projects as they look to expand their partnership beyond the Mopani Copper Mines operation.
The development comes after IRH committed $1.1 billion to support the revival and expansion of Mopani, one of Zambia’s major copper producers. The two companies now want to identify further opportunities that could help unlock the country’s mineral resources and strengthen its position in the global mining industry.
In a joint statement released on Wednesday, October 14, 2026, the companies confirmed that discussions were underway on possible cooperation in mineral exploration and broader mining activities.
Although Mopani remains central to their existing relationship, the latest announcement suggests that both partners are interested in pursuing opportunities across a wider section of Zambia’s mining industry.
IRH and ZCCM-IH Expand Their Mining Partnership
IRH is part of Abu Dhabi-based 2PointZero Group, which has been increasing its investments in Africa’s strategic minerals sector.
The company became the majority shareholder in Mopani Copper Mines in 2024 after acquiring a 51 per cent stake. ZCCM Investments Holdings, which represents Zambia’s state-backed mining interests, retains the remaining 49 per cent.
Before the ownership arrangement was established, the Zambian government had taken control of Mopani in 2021 as it sought to address challenges affecting the mine and improve its long-term performance.
IRH subsequently committed $1.1 billion towards supporting Mopani’s recovery and development. The investment is intended to help improve operations, increase production and establish a stronger foundation for future growth.
The proposed expansion into additional mining projects could give both companies more opportunities to develop Zambia’s mineral resources, attract further investment and build on the experience gained through their cooperation at Mopani.
However, the latest announcement does not identify specific new mines or disclose the value of any additional investments. The discussions therefore represent an exploration of potential opportunities rather than confirmation of new mining deals.
Mopani Targets 300,000 Tonnes of Copper Annually by 2029
Mopani Copper Mines remains a major part of Zambia’s plans to increase copper production and expand the contribution of mining to its economy.
The mine produced 66,369 metric tonnes of copper in 2025. Its longer-term objective is to increase annual output to 300,000 tonnes by 2029, representing a substantial rise from its recent production level.
Achieving this target would require sustained investment, improved operational performance and continued work to expand production capacity.
The mine’s progress is particularly important because copper remains one of Zambia’s most significant mineral resources. The metal is widely used in electricity networks, construction, industrial equipment and telecommunications infrastructure.
Demand for copper is also supported by the expansion of renewable energy systems and electric vehicles, both of which require substantial amounts of the metal.
For Zambia, improving output at Mopani while developing other mining opportunities could help the country benefit from demand for copper and other minerals.
The two companies’ discussions indicate that their cooperation may extend beyond restoring an individual mining operation to supporting broader growth across the sector.
Zambia Sets Ambitious Copper Production Target
Zambia aims to raise its national copper production to three million metric tonnes annually by 2031.
Reaching that level would represent a significant expansion of the country’s mining industry and require investment in existing mines, the development of new deposits and improvements in production infrastructure.
As Africa’s second-largest copper producer, Zambia is seeking to strengthen its position in international mineral markets while attracting investors capable of financing large-scale mining projects.
The government’s production ambitions also make partnerships with international mining investors particularly important. Developing mineral deposits can require substantial capital, technical expertise, modern equipment and reliable transport and energy infrastructure.
IRH’s investment in Mopani is one of the projects expected to contribute to the country’s broader production objectives.
Further cooperation between IRH and ZCCM-IH could potentially open additional avenues for exploration and mining development. The extent of that contribution, however, will depend on which projects are identified, the financing they attract and their eventual production capacity.
IRH Strengthens Its Presence in Africa’s Mineral Sector
IRH’s interest in Zambia forms part of a wider strategy to expand its position in Africa’s critical minerals industry.
In 2025, the company acquired a controlling interest in Alphamin Resources, a tin producer that operates the Bisie mine in the Democratic Republic of Congo.
The investment added to IRH’s involvement in a sector that supplies minerals used in industrial manufacturing and modern technology. Tin, for example, is an important material in electronics production.
The company’s growing portfolio reflects broader investor interest in African mineral resources, particularly as global industries seek reliable supplies of materials needed for infrastructure, technology and the energy transition.
Zambia’s copper resources could offer further opportunities for investors looking to expand their mining activities on the continent.
Working with ZCCM-IH may also provide IRH with an established local partner as the companies assess potential projects and consider how to develop them.
Nevertheless, the announcement does not mean that every opportunity under discussion will necessarily proceed. New projects would need to be assessed for their commercial viability, resource potential, financing requirements and operational challenges.
What the Partnership Could Mean for Zambia
A wider partnership between IRH and ZCCM-IH could create opportunities to attract more capital into Zambia’s mining industry.
New exploration activities may help identify deposits suitable for future development, while investments in existing operations could contribute to higher mineral output and stronger supply chains.
Expansion across the sector could also create opportunities for local businesses involved in equipment supply, engineering, transport and other mining-related services.
The potential economic benefits will depend on how projects are implemented, including whether they generate sustainable employment, support local suppliers and deliver revenue to the Zambian economy.
At the same time, the partners must navigate the financial and technical demands associated with mining development. Exploration does not always lead to commercially viable discoveries, and even promising deposits can require years of investment before production begins.
For now, the companies have confirmed their interest in identifying new areas of cooperation, while Mopani remains the main focus of their established partnership.
Their next steps will determine whether the discussions lead to additional investments capable of supporting Zambia’s ambition to become a significantly larger copper producer by 2031.
