On Wednesday, International Resources Holding (IRH) announced its plan to take over a majority share in Alphamin Resources, a leading tin manufacturer, for C$503 million (around $367 million). This move marks a significant step for the Abu Dhabi-based mining company into the field of critical minerals.
As per a joint announcement, IRH will acquire about 719 million shares, which constitutes a 56 percent ownership from Tremont Master Holdings at a rate of C$0.70 per share.
IRH’s CEO, Ali Alrashdi, highlighted in a statement that “Alphamin’s robust production capabilities are in line with our objective of securing stakes in premier mining assets that possess long-term growth prospects.”