International Resources Holding (IRH), a subsidiary of Abu Dhabi’s International Holding Company, has announced its intention to participate in the bidding process for a stake in Zambia’s Lubambe Copper Mine. Following its recent acquisition of a 51% stake in Zambia’s Mopani Copper Mines, IRH sees this move as a strategic opportunity to further leverage Africa’s second largest copper producer.
Despite reports of Chinese firm JCHX Mining’s agreement to acquire an 80% stake in Lubambe, IRH remains interested in pursuing a stake in the mine, potentially setting the stage for a competitive bidding scenario. The company’s expanding presence in Zambia underscores its commitment to exploring additional investment prospects within the region, with a focus on securing valuable resources and capitalizing on the growing demand for electric vehicles (EVs).
As cash-rich entities from the United Arab Emirates and Saudi Arabia increasingly target investments in African firms to diversify their economies and tap into emerging market opportunities, IRH’s strategic move aligns with broader industry trends. Beyond copper, IRH aims to diversify its portfolio by exploring investments in other critical minerals essential for the energy transition, including cobalt, nickel, rare earth elements, manganese, graphite, as well as tin, tungsten, and tantalum (3T minerals).
By actively pursuing diverse investment opportunities, IRH aims to position itself strategically in the evolving global resource landscape and capitalize on emerging market dynamics in the minerals sector.