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| IRH Trading copper expansion |
UAE-backed trader targets long-term growth in African and global base metal markets
IRH Trading copper expansion signals Abu Dhabi’s growing ambition in global metals markets. Backed by International Holding Company (IHC), IRH Trading aims to handle 1 million tonnes of copper per year by 2030. CEO Vineet Mehra confirmed this during the FT Metals and Mining Summit in London.
The company is a unit of International Resources Holding (IRH), which owns majority stakes in Mopani Copper Mines (Zambia) and Alphamin Resources (DRC). IRH Trading has already moved 150,000 tonnes of copper in 2025, with expectations to reach 200,000 tonnes by year-end.
Long-Term Strategy Anchored in African Copper Assets
IRH Trading builds its trading book on output from its parent’s assets while expanding supply networks in Africa, Latin America, North America, and Asia. The IRH copper expansion also includes ambitions in aluminium, zinc, tin, LNG, crude oil, and steel.
Unlike short-term-focused peers, IRH adopts a 20–30 year investment horizon. It evaluates risk differently, aiming to grow alongside host countries. “We’re not here for the flavor of the season,” Mehra emphasized.
The company also leverages partnerships with Abu Dhabi-based logistics and energy firms. These include AD Ports in Dar es Salaam and 2PointZero, which supports renewable energy and power storage across the Copperbelt.
Positioning Abu Dhabi as a Global Commodities Hub
The IRH copper expansion is part of a broader strategy to turn Abu Dhabi into a metals trading hub. The company is entering a space dominated by Glencore, Mercuria, and Gunvor, yet cooperates with these firms on offtake agreements.
IRH's strategic investments—such as $1.1 billion in Mopani Copper Mines and $367 million in Alphamin—have created a foothold in two of Africa’s richest copper and tin regions. The focus now remains on organic growth across Africa, before scaling globally.
ScrapInsight Commentary
IRH Trading’s aggressive copper expansion reflects a shift in geopolitical metals trading, with sovereign-backed players reshaping supply flows. By focusing on long-term partnerships and value-chain control, IRH could drive regional infrastructure development while creating price discovery alternatives outside traditional hubs like London and Shanghai.
