The UAE’s International Resources Holding (IRH) has announced plans to establish a copper trading hub in Abu Dhabi as part of its expansion into critical minerals. An affiliate of the International Holding Company, IRH aims to trade over half a million metric tons of copper annually starting next year, according to a recent LinkedIn post.
This initiative follows IRH’s recent acquisition of a 51% stake in Zambia’s Mopani Copper Mines for $1.1 billion. The company stated, “We are set to launch a copper trading hub in Abu Dhabi, targeting over 500,000 tons of green copper annually by 2025.” This move is intended to enhance the region’s role in the global energy transition.
The oil-rich UAE, alongside Saudi Arabia, is aggressively securing critical metal supplies from Africa and Latin America, positioning itself to play a significant role in the green energy transition. In a related development, Sigma Lithium recently announced an agreement to supply 22,000 tons of lithium concentrates to IRH, marking the first deal between the two firms.
