Recently, International Resources Holding (IRH), an Abu Dhabi-based international resources holding company, decided to acquire a majority stake in a large tin mine located in the Democratic Republic of the Congo (DRC), further expanding its investment portfolio in critical mineral resources.
It is reported that IRH acquired approximately 56% of Alphamin Resources from a subsidiary of Denham Capital, a US private equity fund, for CAD 503 million (approximately US$367 million).
Alphamin, listed in Canada, owns the large Bisie tin mine in eastern DRC. In addition to tin, the mine is rich in critical minerals such as tantalum, tungsten, and coltan.
The Bisie tin mine officially commenced production in 2019, with two major pits: Mpama North and Mpama South.In 2024, its production exceeded 17,000 mt, accounting for approximately 6% of global tin production.The mine temporarily suspended operations in March this year, causing a brief spike in global tin prices, but has since resumed production.
IRH is a subsidiary of International Holding Company (IHC), an international holding company led by Sheikh Tahnoon bin Zayed al-Nahyan, the UAE's National Security Advisor and a member of the Abu Dhabi royal family, focusing on mining exploration and investment.
Sheikh Tahnoon bin Zayed al-Nahyan is the brother of UAE President Mohamed bin Zayed Al Nahyan and manages a US$1.5 trillion business empire. In addition to IHC, he also serves as the Chairman of sovereign funds Abu Dhabi Development Holding Company (ADQ) and Abu Dhabi Investment Authority (ADIA), the Chairman of G42, the largest AI company in the Middle East, the Chairman of private investment company Royal Group, and the Chairman of First Abu Dhabi Bank.
In 2023, IRH invested US$1.1 billion to acquire the Mopani copper mine in Zambia, officially entering the African mining market. Since then, IRH has continued to seek acquisition opportunities for critical minerals in Africa.
Tin, as an important metal resource, is widely used in the chemical, electronics, metallurgical, and new energy industries, among others.
Against the backdrop of the global energy transition, major oil-producing countries in the Gulf, including the UAE, are actively promoting economic diversification strategies, with a particular focus on the layout of critical metal resources to secure a favorable position in the global energy transition.
