UAE-backed investment drives revival of Mopani Copper Mines

A year after UAE's International Resources Holding became Mopani's majority shareholder, production is up and jobs have been created

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A transformative investment led by the UAE's International Resources Holding (IRH) has helped deliver a strong revival at Zambia’s Mopani Copper Mines, one of Africa's most strategically important copper assets.

A year after IRH became Mopani’s majority shareholder, production is up, jobs have been created, and long-term expansion plans are now underway. Mopani’s latest operational update, presented to suppliers and community leaders in Kitwe, revealed a 148 increase in ore production to 2.59 million tonnes, alongside an 18% rise in copper grades and a 238 boost in contained copper output to 47.2 thousand tonnes.

A World Bank Report published on 9 July identified the revival of Mopani as a contributing factor in Zambia's 48 GDP growth in 2024.

These gains have been underpinned by over $1.1 billion in investment from IRH since 2023, including $620 million in equity capital and $400 million in long-term funding. Further expansion is planned, with Mopani targeting copper output of 300,000 tonnes per year by 2029. A new airborne geophysical survey is underway to identify additional reserves that could extend the life of the mine by more than 30 years.