U.S.-India Partnership Enhances DRC Copper and Cobalt Production
Virtus Minerals, a U.S.-based mining company, has completed the acquisition of the Chemaf Group in the Democratic Republic of Congo (DRC) through a joint venture with Indian firm Lloyds Metals and Energy Limited. This acquisition is expected to significantly boost the DRC's copper and cobalt output, aligning with global supply chains for electric vehicles, renewable energy, and defense manufacturing. The deal is part of the U.S.-DRC Minerals Partnership, aimed at shifting resource access from Chinese networks to Western investors. Chemaf's Mutoshi project and Etoile processing facility are key assets in this strategy, with plans to expand production capacity. 
