UAE's IRH plans bid for stake in Zambia's Lubambe copper mine

Reuters Images/Marko Djurica

IRH, which recently bought a 51% stake in Zambia's Mopani Copper Mines, told Reuters the deal has unlocked potential for more opportunities to grow in Africa's second largest copper producer

Felix Njini and Hadeel Al Sayegh, Reuters News

March 28, 2024

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JOHANNESBURG - International Resources Holding (IRH), a unit of Abu Dhabi's International Holding Company, said it intends to bid for a stake in Lubambe Copper Mine in Zambia.

IRH, which recently bought a 51% stake in Zambia's Mopani Copper Mines, told Reuters the deal has unlocked potential for more opportunities to grow in Africa's second largest copper producer.

A unit of Abu Dhabi's most valuable company, IRH is interested in buying an 80% stake in Lubambe held by EMR Capital, even after a Chinese firm JCHX Mining, agreed to buy the stake, Reuters reported March 22, citing sources.

"IRH's commitment (at Mopani), has opened doors for additional investment opportunities in Zambia, including an intention to bid for a stake in the Lubambe Copper Mine," the company said in an emailed response to Reuters questions.

(Reporting by Felix Njini and Hadeel Al Sayegh; editing by Jason Neely)

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