Mopani Copper Mines

What Mopani Copper Mines does

Mopani Copper Mines is a vertically integrated Zambian copper producer headquartered in Kitwe in the Copperbelt Province, established in 2000. The company operates a full mining-to-metal value chain comprising underground and open-pit mines, concentrators, an ISASMELT smelter, and a refinery, with nameplate annual copper capacity of 225,000 metric tonnes. It serves global copper markets through sales of concentrate and refined cathode to commodity traders, smelters, and refiners, priced against the London Metal Exchange benchmark.

Mopani was majority acquired in 2024 by International Resources Holding (IRH), an Abu Dhabi-backed vehicle, which committed $1 billion to modernize and expand operations. The Zambian state mining investment company, ZCCM-IH, retains a residual equity stake, aligning Mopani with Zambia's national target of 3 million tonnes of annual copper output by 2030. Active capital projects include the Synclinorium Shaft and Concentrator expansion and longer-dated underground developments at Henderson Shaft and Mindola Deeps, intended to extend mine life beyond 25 years and support a target output of 200,000 tonnes within three years.

The business model is that of a commodity producer selling into cyclical global markets, with revenue tied to LME copper pricing, realized grade, and capacity utilization. Recent execution has been mixed: the Mufulira underground operation was suspended by safety regulators in February 2026, and parent ZCCM-IH reported a ZMW 2.79 billion net loss for FY 2025, indicating the company is in a restructuring and ramp-up phase under new ownership. Procurement activity (Epiroc fleet in April 2026, Laxyo raise-boring contract in June 2026) signals active buildout of the operating base required to execute the stated expansion.

Name

Mopani Copper Mines

Legal name

Mopani Copper Mines Plc

Website

https://mopani.com.zm

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

10,001+ employees

Short description

Mopani Copper Mines is a vertically integrated Zambian copper producer operating mining, concentrator, ISASMELT smelter, and refinery assets in the Copperbelt Province. Majority-owned by Abu Dhabi's IRH since 2024, it serves global copper markets with a 225,000-tonne annual capacity target.

Ownership category

akta.pro rank

Product category

Copper Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Nonferrous Metal (except Aluminum) Smelting and Refining (33141)

SIC

Metal Mining (1000), Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)

akta.pro secondary industries

Copper Concentration (Crushing, Grinding, Flotation) (IMAKADAC), Copper Pyrometallurgy (Smelting, Converting) (IMAKADAE), Copper Mine Engineering, EPC & Expansion Projects (IMAKADAM)

Keywords

• Copper mining operations
• Copper concentrate production
• Cathode copper refining
• Underground copper extraction
• Mineral processing services

Headquarters

HQ city

Kitwe

HQ country

Zambia

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Copper Mining and Sales: Mopani generates revenue through copper mining operations, producing copper concentrate and cathode copper for sale to smelters and commodity markets. The company is undergoing recapitalization and restructuring under IRH ownership to restore profitability.
2. Mining Services Contracts: Engagement of contractors like Laxyo Ltd for raise-boring services at underground operations.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Mopani Copper Mines PLC is a vertically integrated copper producer operating underground and open-pit mines, a flotation concentrator, an ISASMELT smelter, and an electrolytic refinery in Zambia's Copperbelt. The company produces copper concentrate and cathode copper for sale to global smelters, refiners, and commodity traders, and also operates supporting services including Mopani Medical and MCM Analytical Services for employees and surrounding communities.

Product overview

Mopani Copper Mines PLC operates a vertically integrated copper mining and processing business in Zambia's Copperbelt region. The company operates underground and open-pit mines, a concentrator for ore processing, an ISASMELT smelter for copper extraction, and a refinery producing cathode copper. Current production capacity is constrained, with ongoing expansion projects (Synclinorium Shaft, Synclinorium Concentrator) targeting increased output to 200,000 tonnes within three years. The company also provides supporting services including medical facilities and analytical services for the local community and operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Copper Mining Operations Underground and open-pit copper mining operations at Mufulira and Nkana in Zambia's Copperbelt region, producing copper concentrate from mined ore for sale to global smelters and refiners.
• Copper Concentrator Ore processing facility that crushes and mills mined copper ore to produce copper concentrate through flotation, supplying downstream smelting and external buyers.
• ISASMELT Smelter Copper smelting facility using ISASMELT furnace technology at Mufulira to process copper concentrate into blister copper for refining and sale.
• Copper Refinery Copper refinery producing electrolytic copper anodes and cathode copper for export and domestic sales.
• Mopani Medical Services Healthcare services for employees and local communities including hospital facilities, a medical scheme, and emergency response.
• MCM Analytical Services Laboratory and analytical testing services for mineral sample analysis and quality assurance supporting mining operations.

Quantifiable outcome

• Operating at fraction of 225,000 tonne capacity - targeting 200,000 tonnes within 3 years
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered minor and core.

• Laxyo LtdminorOthers · 22 June 2026Indian mining contractor Laxyo Ltd secured a $23 million raise-boring contract at Mopani Copper Mine, representing 12.6% of its order book. This is Laxyo's first overseas project and supports Mopani's underground mining expansion.
• EpiroccoreTechnology or Integration · 10 April 2026Epiroc secured a large fleet order from Mopani for Minetruck underground haulers and Scooptram loaders to be deployed at two deep-level copper operations. The diesel or electric-ready units aim to raise production capacity while improving operator protection and traffic control.
• Zambian Government (Ministry of Mines)coreOthersZambia's government granted Mopani a 100,000-ton copper concentrate export allocation as part of nearly 272,000 tons total quotas for three months. Mopani reaffirmed its preference to process concentrate domestically.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Glencore: Glencore previously owned Mopani and is one of the world's largest integrated copper miners and traders, with operations across the DRC, Peru, Chile, and Australia. It is a broad incumbent peer offering direct comparison on copper mining economics, smelting/refining integration, and LME-linked offtake.
• Freeport-McMoRan: Freeport-McMoRan is a leading global copper miner and refiner producing copper concentrate, cathode, and refined copper worldwide (notably through Grasberg and Cerro Verde). Comparable to Mopani as a vertically integrated non-ferrous producer operating at large scale across multiple jurisdictions.
• Codelco: Codelco is Chile's state-owned copper mining company, the world's largest copper producer, operating integrated underground and open-pit mines with concentration and smelting. It is a broad incumbent peer and benchmark for vertically integrated, state-influenced copper operations comparable to Mopani's model.
• Anglo American: Anglo American operates large-scale copper assets (Quellaveco in Peru, Los Bronces in Chile) alongside its broader mining portfolio. Comparable to Mopani as a global copper competitor serving the same smelter/refiner customer base and operating integrated mining-to-concentrate flowsheets.
• KGHM Polska Miedź: KGHM is one of the world's largest integrated copper and silver producers with underground mining, concentration, smelting, and refining operations in Poland and internationally. Directly comparable to Mopani as a vertically integrated copper miner with significant underground mining exposure.

Direct peers

• Jiangxi Copper: Jiangxi Copper is one of China's largest integrated copper producers operating mines, concentrators, smelters, and refineries with comparable cathode output. It is a directly comparable peer to Mopani on vertical integration, copper concentrate trading, and cathode production for industrial customers.
• First Quantum Minerals: First Quantum operates the Kansanshi and Sentinel copper mines in Zambia and was a previous bidder for Mopani. It is a direct peer producing copper concentrate and cathode in the same Zambian jurisdiction with comparable geological, regulatory, and infrastructure dynamics.
• Vedanta Resources (Konkola Copper Mines): Konkola Copper Mines (KCM) is Vedanta's Zambian copper asset operating in the same Copperbelt, producing copper concentrate and cathode via integrated mining, concentration, and smelting. It is Mopani's closest direct peer — same country, same geology, same regulatory regime, and explicitly cited alongside Mopani by ZCCM-IH as underperforming.
• Barrick Gold (Lumwana Copper): Barrick operates the Lumwana copper mine in northwestern Zambia, making it a directly comparable Zambian copper producer competing for the same resource base, skilled labor pool, government engagement, and export quotas as Mopani.
• Southern Copper Corporation: Southern Copper is a major vertically integrated copper miner (mining, smelting, refining) operating open-pit and underground mines in Peru and Mexico. It compares closely to Mopani on integrated value chain structure, copper concentrate and cathode output, and exposure to global commodity pricing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/mopanicoppermines
• LinkedInlinkedin.com/company/mopani-copper-mines

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mopani Copper Mines