Kitwe, Zambia erupted in celebration today as Mopani Copper Mines officially relaunched, marking a new era for the mine, the Copperbelt region, and the entire nation. President Hakainde Hichilema hailed the revitalization as a boon for livelihoods across Zambia.
The relaunch comes after a meticulously negotiated partnership with International Resource Holdings (IRH) from Abu Dhabi. President Hichilema emphasized that this is not a simple handover, but a joint venture built on mutual respect and shared benefits. ZCCM-IH, a Zambian state-owned entity, will retain a 49% stake in Mopani, ensuring the country reaps significant rewards.
The partnership is further bolstered by a historic $1.1 billion investment from IRH, representing the first major investment from the UAE in Zambia. This paves the way for future UAE investments in green energy and other sectors, propelling Zambia’s economic diversification.
President Hichilema also announced the launch of a Supplier Development Program by Mopani. This initiative aims to empower Zambian businesses by providing access to capital and vital business development services. He encouraged Zambian companies to learn from their counterparts in the UAE, who have successfully leveraged resource wealth for economic transformation.
The President concluded by expressing Zambia’s deep gratitude to His Highness Sheikh Mohamed bin Zayed Al Nahyan, Ruler of Abu Dhabi and President of the UAE, and His Highness Sheikh Tahnoon Bin Zayed Al Nahyan, Chairman of IHC, for their unwavering support and the strengthening of ties between the two nations.
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