Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
International Resources Holding (IRH), a subsidiary of International Holding Company (IHC), has signed a definitive agreement to acquire a controlling stake in Alphamin Resources Corp., one of the world’s top tin producers. The deal marks a significant step in IRH’s strategy to enhance its global footprint in critical industrial metals.
Under the terms of the transaction, IRH will acquire the 56% stake held by Tremont Master Holdings in Alphamin for a total consideration of approximately $367 million, according to a joint statement by both the companies.
Alphamin, listed on the TSX Venture Exchange in Canada and the Johannesburg Stock Exchange, operates the Bisie tin mine in the eastern Democratic Republic of Congo. The mine is globally recognised as one of the highest-grade tin resources and contributes about 6% of the world’s annual tin output. Tin is a vital raw material used in electronics, manufacturing, and other industrial applications.
CEO of IRH, Ali AlRashdi, said, “Alphamin’s strong production profile aligns with our strategy of securing interests in high-quality mining assets with long-term growth potential.”
Closing of the transaction is subject to certain conditions, including regulatory and internal corporate approvals. IRH and Tremont intend to complete the deal via a block trade executed over a stock exchange.
Following the transaction, Tremont’s shareholding in Alphamin will drop from 57% to just 0.8%, retaining approximately 10.1 million common shares. IRH, which held no Alphamin shares prior to this agreement, will become the majority shareholder.
Chairman of Tremont Master Holdings, Rob Still, expressed satisfaction with the outcome, noting, “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.”
IRH confirmed that the acquisition is part of its broader plan to secure and optimise industrial metal supply chains worldwide. The company, based in Abu Dhabi, has been actively investing in upstream and midstream assets to enhance the stability and efficiency of global raw material markets.
“This acquisition strengthens IRH's position in the global industrial metals sector, adding a majority interest in a highly productive and strategically important tin asset to its portfolio,” the joint statement said.
While this transaction focuses on the majority stake, IRH has indicated that it may consider acquiring the remainder of Alphamin’s shares in the future. Any such move would follow discussions with the company’s board, shareholders, and other stakeholders, and could involve one or more strategic transactions.
