IRH buys majority stake in Alphamin
United Arab Emirates-based International Resources Holding (IRH) has entered into an agreement to acquire Tremont Master Holding’s majority stake in tin miner Alphamin Resources.
IRH will gain a 56% interest in the company, which operates the world’s third largest tin mine, Bisie, in eastern DR Congo, for approximately $367 million from Tremont, a subsidiary of US-based Denham Capital.
The mining investment firm currently holds a majority interest in a Zambian copper mining complex, and is also involved in metal trading. IRH’s CEO, Ali Alrashdi, commented “Alphamin’s strong production profile aligns with our strategy of securing interests in high-quality mining assets with long-term growth potential.”
Tremont’s Chairman, Rob Still, said “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”.
The deal comes amid reported recent negotiations between the United States and DR Congo over American access to critical minerals in return for security support.
Alphamin temporarily halted mining operations in March 2025 due to the advance of non-state armed groups towards Bisie. Announcing the production halt, the company said it had appointed a US-based firm to lobby for US diplomatic intervention regarding the security threats.
Operations restarted during April and the company has said that the phased restart is progressing well.
The mine was originally expected to produce 20,000 tonnes of tin-in-concentrate in 2022 with the Mpama South expansion fully operational, although this was revised down to 17,500 tonnes following the suspension.
This deal comes amid both a swathe of corporate activity in the tin supply space and increased US interest in the region’s critical minerals. The deal spotlights the UAE as a major player, alongside the US and China, vying for greater control of tin supply.
