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Abu Dhabi-headquartered IRH to acquire a majority stake in Alphamin

Alphamin's Mpama South project

Photo by Alphamin

4th June 2025

By: Creamer Media Reporter

     

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Abu Dhabi-based global mining company International Resources Holding (IRH) has entered into a definitive agreement with Tremont Master Holdings to acquire a 56% interest in TSX-V- and JSE-listed Alphamin Resources Corp, which owns and operates tin mining assets in the Democratic Republic of Congo.

IRH will acquire about 718.99-million Alphamin shares from Tremont at a price of C$0.70 a share, for a total consideration of C$503.29-million, or about $367-million.

IRH says the acquisition strengthens its position in the global industrial metals sector, adding a majority interest in a highly productive and strategically important tin asset to its portfolio. 

"Alphamin's strong production profile aligns with our strategy of securing interests in high-quality mining assets with long-term growth potential," comments IRH CEO Ali Alrashdi.

"Following Tremont's 12-year history in exploring, evaluating and then building and operating the Bisie mine, we are now pleased to transfer our ownership stake to another long-term investor who shares our vision for the operation and our commitment to the region," says Tremont chairperson Rob Still.

Alphamin reported record tin production of 17 324 t for the 2024 financial year – a 38% year-on-year increase.

Production guidance for this year was initially set at 20 000 t; however, security concerns in the DRC earlier this year resulted in some interruption to operations.

Alphamin was forced in mid-March to temporarily halt mining operations, as insurgents were advancing closer to its operations. By early April, the company was, however, able to start a phased restart of operations.

The miner reported in mid-May that operations were running well. It, nevertheless, lowered its production guidance for the full year to 17 500 t.

Alphamin notes in a separate statement to its shareholders that the board of directors is evaluating the impact of the transaction, if any, on the company.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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