International Resources Holdings, a provider of metal exploration services, agreed to acquire a majority stake in Mopani Copper Mine, a Zambian company that produces and sells copper and cobalt to the international market, from ZCCM Investment Holdings, an investment holding company, primarily holds investments in the copper mining sector in Zambia, and Glencore, a Swiss multinational commodity trading and mining company, for $1.1bn. "$620 million will be provided in the form of new equity capital in return for a 51% stake in MCM. Approximately $400 million will be provided as a shareholder loan ... that will be used as part of the consideration to settle the original Glencore transaction debt of $1.5 billion plus interest," ZCCM Investment Holdings.