Abu Dhabi's IRH offers $1bn for 51% stake in Vedanta's Zambian copper assets, expanding its African copper mining empire.
The mining investment arm of Abu Dhabi's most valuable company, International Resources Holding (IRH), has offered over $1bn to buy a 51% stake in Vedanta Resources' Zambian copper assets. This move aims to expand IRH's African copper mining empire, following its acquisition of a 51% stake in Mopani Copper Mines for $1.1bn. The deals are part of an effort by the oil-rich UAE and Saudi Arabia to secure critical metal supplies from Africa, which could support their transition to green energy.
April 19, 2024
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