The Industrial Development Corporation (IDC) has partnered with Switzerland-based Mercuria Energy Trading SA, a world leading independent energy and commodity trading group, to establish a metals trading company.
The joint venture involves IDC’s wholly owned subsidiary, Industrial Resources Limited (IRL), and aims to maximize Zambia’s participation in the global trading of its mineral resources.
This strategic partnership aligns with the Zambian Government’s commitment to enhancing its role in the international commodities trading market, leveraging its rich mineral wealth to achieve greater economic value.
Through this partnership, Mercuria will provide its financial, commercial, and technical expertise to help Zambia build independent institutional marketing and trading capabilities for copper, the country’s largest mineral export.
Speaking on behalf of IDC CEO Cornwell Muleya, Chief Legal Officer Mrs. Leya Mtonga-Ngoma said the partnership would position Zambia as a key player in international commodity markets.
“This initiative establishes a vehicle for marketing and trading Zambian copper, enabling Industrial Resources Limited and Mercuria to mutually leverage their strengths. It will also promote local capacity building by training Zambians in global commodity trading, risk management, and financial operations,” Mr. Muleya said.
Mr. Kostas Bintas, Mercuria’s Global Head of Metals and Minerals described the partnership as a significant milestone for Zambia’s strategic positioning in the global minerals market.
“This joint venture focuses exclusively on metals trading and reflects our dedication to fostering long-term, mutually beneficial partnerships,” said Mr. Bintas.
Established in 2004, Mercuria is a global leader in energy and commodities trading, recognized for its efficiency, innovative use of technology, and commitment to sustainability. The company has pledged over 50 percent of new investments to renewable and transitional energy, solidifying its role in driving the energy transition.