UAE-based International Resources Holding (IRH) announced last week a definitive agreement to acquire a 56% stake in Alphamin Resources, the owner of the Bisie tin mine in the Democratic Republic of Congo (DRC). The deal, valued at $367 million, is pending regulatory and corporate approvals.
The acquisition involves 718,990,967 ordinary shares at 0.70 Canadian dollars per share, currently held by Tremont Master Holdings, a subsidiary of Anglo-American investment firm Denham Capital. After the transaction, Tremont will retain approximately 0.8% of Alphamin’s capital.
“Alphamin’s strong production profile aligns with our strategy of securing interests in high-quality mining assets with long-term growth potential,” IRH CEO Ali Alrashdi was quoted by Ecofin Agency as saying.
If finalized, the transaction will give IRH indirect control of a mine capable of producing 20,000 tons of tin annually. However, due to ongoing security risks in eastern DRC, Alphamin has revised its 2025 output forecast to 17,500 tons. The company was forced to halt operations earlier this year following M23 rebel group activity, which temporarily disrupted mining activity.
The Bisie mine is among the world’s richest tin assets. Despite its location in a conflict-affected zone, it remains a key contributor to global tin supply, the agency said.
This acquisition follows IRH’s expansion in Zambia, where it took over Mopani Copper Mines in 2024 in partnership with the Zambian government. IRH has pledged over $1 billion in copper investment across the region, Ecofin Agency recalled.