The UAE "IRH" has a majority stake in the Kunugu shopping center in the Kungo complex

International resources in Abu Dhabi have agreed to acquire a majority stake in Alphamin Resources, giving it a presence in one of the largest tin mines in the world. The Emirati company, known as ‘IRH’, said in a statement that the agreement requires a 56% stake in ‘Alphamine’ of a unit of investment business in the private equity “Deenham Capital” for about $ 503 million Canadian dollar ($ 366 million). ‘Bloomberg’ revealed in November that the company had investment talks in ‘Alfamine’, which owns the ‘bunch’ complex to withdraw Tin in the Democratic Republic of Congo. An expected demand for TIN is expected to increase the demand for TIN, which will be used in the coming years in electronic components and in renewable energy technologies. Although the production of “possession” is increasing, the area around the site has been seeing armed conflicts for decades, which has been a major obstacle to investments. These risks clearly emerged when ‘Alfamine’ was forced to suspend its operations for almost a month in March last year, after a rebel group supported by the neighboring Rwanda approached from the mine’s location. In April, Congo and Rwandan governments signed a ‘statement of principles’ in Washington, in which the two parties promised to work to a peace agreement. International resources Holding is a unit that belongs to Al -Alamia Holding Company, a large group controlled by UAE’s national security advisor Sheikh Tahnoon bin Zayed Al Nahyan. The company entered the mining sector at the end of 2023 through an agreement of $ 1.1 billion to acquire the “Mobani” copper complex in Zambia. Since then, the company has been seeking more acquisitions and partnerships in the mining sector. The improvement of the UAE mining company’s position said in its statement that the Alphamine agreement is increasing the position of international resources in the global industrial mineral sector, by including “one of the largest and highest quality tin mines in the world” in its investment portfolio. Tin production began in 2019 from the “bazy” mine, and it has reached more than 17 thousand tonnes over the past year, while “alphamine” plans to increase production to more than 20 thousand tonnes annually. Denham Capital was the biggest contributor to ‘Alfamine’, listed for more than a decade on the stock exchanges of Toronto and Johannesburg, but will hold only 0.8% of the company’s shares after the agreement.