UAE-based International Resources Holding (IRH) has secured a controlling stake in Alphamin Resources, a leading tin producer in the Democratic Republic of Congo.
The acquisition, valued at C$503 million (approximately $367 million), involves IRH purchasing 56% of Alphamin shares from Tremont Master Holdings at C$0.70 per share.
Alphamin’s key asset, the Bisie mine in eastern Congo, produces roughly 6% of the world’s tin supply annually. This region also holds deposits of tantalum, tungsten, and coltan.
IRH’s CEO Ali Alrashdi stated the deal fits the firm’s strategy to acquire high-quality mining assets rich in critical minerals.
Last year, IRH expanded its African footprint by acquiring a 51% stake in Zambia’s Mopani Copper Mines for $1.1 billion. The company continues to seek further investments in critical mineral resources across Zambia and Congo.
The move comes as Gulf oil producers, including the UAE and Saudi Arabia, diversify their economies and secure metals essential for the global shift to green energy.
Tin’s importance spans electronics, semiconductors, and renewable technologies, making it a strategic asset for future industries.
Alphamin’s operations faced disruption earlier this year when the Rwanda-backed M23 rebel group advanced near the Bisie mine, temporarily halting mining activities.
IRH’s investment signals growing confidence in African mining despite regional challenges, aiming to anchor supply chains vital for a greener world.