International Resources Holding, a unit of Abu Dhabi’s International Holding Company, has expressed interest in acquiring Zambia’s Lubambe Copper Mine, currently under agreement for purchase by China’s JHCX Mining. This development introduces a potential challenge to the ongoing sale process, with IRH’s interest complicating the deal already in progress. The pursuit of Lubambe, a significant copper asset in Zambia, reflects the growing competition between Middle East investors and Chinese firms in securing critical metal supplies in Africa. The strategic move aligns with the broader efforts of oil-rich nations like the UAE and Saudi Arabia to diversify their economies and engage in the energy transition.
UAE’s International Holding Company Eyes Zambia’s Lubambe Copper Mine Acquisition