01:57 PM EDT, 07/22/2025 (MT Newswires) -- International Resources Holding, an Abu Dhabi-based global mining company, and Tremont Master Holdings on Tuesday said IRH completed its acquisition of a 56% majority interest in Alphamin Resources ( AFMJF ) from Tremont.

Through its wholly owned subsidiary Alpha Mining LTD, IRH acquired around 718.99-million shares of Alphamin from Tremont at a price of C$0.70 each.

International Resources Holding paid Tremont approximately US$367 million in cash for the acquired shares, gaining control of its mines in the Democratic Republic of Congo.

"We see Alphamin, and its operations at Bisie, not just as a world-class tin asset, but as a strategic opportunity for the long-term development of a vital resource for the green energy transition, and a long-term boost to development in North Kivu, through investment in sustainable operations, skills development, and local partnerships," said International Resources Holding's Chief Executive Officer Ali Alrashdi. "We look forward to working closely with Alphamin management and the communities around Bisie to unlock shared value."

Alphamin Resources ( AFMJF ) shares were last seen up $0.01 to $0.97 on the TSX Venture Exchange.

Price: 0.97, Change: +0.01, Percent Change: +1.04