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US Company Expands Critical Minerals Footprint with Chemaf Acquisition

Deal signals growing global interest in cobalt and copper supply chains

Washington, 1 April 2026 – A major development in the global mining sector has emerged as US-based Virtus Minerals moves forward with the acquisition of Chemaf, a cobalt and copper producer operating in the Democratic Republic of Congo. The deal highlights increasing international focus on securing critical minerals that are essential for modern technologies and energy systems.

Virtus Minerals has agreed to acquire Chemaf for approximately $30 million, while also planning to raise significant additional investment to support operations and future growth. The company is expected to bring fresh capital and strategic direction to Chemaf’s mining assets, which are located in one of the world’s most resource-rich regions.

Chemaf’s operations are particularly important due to their production of cobalt and copper, key materials used in electric vehicles, renewable energy systems, and advanced electronics. As global demand for these materials continues to rise, investments in mining and supply chains are becoming increasingly important.

The acquisition process involved multiple stakeholders, including local authorities and mining regulators, as approvals were required for the transfer of operational control. The development reflects the complexity of mining agreements and the importance of partnerships in resource-rich regions.

This move also signals a broader shift in the global minerals market, where companies are looking to diversify supply sources and strengthen access to essential raw materials. Increased investment in mining infrastructure and operations is expected to improve supply chain resilience and support long-term industrial growth.

With additional funding commitments planned, the deal is likely to support expansion, improve production capabilities, and enhance operational efficiency at Chemaf’s sites. It also reinforces the growing role of private investment in shaping the future of the global mining and metals industry.

As industries such as clean energy, electric mobility, and advanced manufacturing continue to expand, access to critical minerals like cobalt and copper will remain a key priority. Strategic investments like this are expected to play an important role in meeting future demand and ensuring stable supply chains.