U.S. Welcomes Virtus Minerals’ Acquisition of Chemaf Assets as Strategic Step in DRC Mining Sector
Virtus Minerals’ Chemaf Deal Marks U.S. Return to DRC Mining and Critical Minerals Push, Says Washington
The acquisition of Chemaf Group’s mining assets in the Democratic Republic of Congo by U.S.-based Virtus Minerals continues to draw strong support from Washington, where officials view the deal as a strategic milestone in strengthening American engagement in the global critical minerals sector.
Jacob S. Helberg, U.S. Under Secretary of State for Economic Affairs, described the transaction as a significant development for both the United States and the DRC, framing it as part of Washington’s renewed effort to reassert its presence in Congolese mining.
“The acquisition of Chemaf mines in the DRC by Virtus is significant for both America and the Congolese people.
Under President Trump’s leadership, the United States is back competing in the DRC’s mining sector. The U.S.–DRC strategic partnership is a cornerstone of American economic security,” he stated.
Virtus Minerals recently finalized the acquisition of Chemaf’s assets, including operations in Lualaba Province.
Chemaf is one of the largest cobalt producers outside Chinese control, making the transaction strategically important in the global competition for critical minerals used in batteries and clean energy technologies.
The deal also involves taking over a company facing major financial and operational challenges, including nearly US$1 billion in debt, complex operating conditions, and the presence of thousands of artisanal miners at the Mutoshi site.
In Kinshasa, Congolese authorities are closely monitoring the transition. On June 2, 2026, Mines Minister Louis Watum Kabamba met with Virtus Minerals executives during a follow-up review session held two months after the transaction’s completion.
According to the minister, discussions focused on progress at the Étoile and Mutoshi projects, as well as expectations regarding job creation, workforce training, and community engagement.
“I encouraged the company to maintain close cooperation with the Ministry of Mines to ensure the success of the project in compliance with national laws and international mining standards,” he said, emphasizing the importance of regular reporting and harmonious relations with local communities and artisanal miners.
U.S. diplomatic interest in the project was further highlighted during DRC Mining Week, where the U.S. Chargé d’Affaires in the DRC, Ian McCary, visited the Mutoshi site to assess operations under Virtus Minerals’ management.
The Chemaf–Virtus transaction reflects Washington’s broader strategy to expand its footprint in the DRC’s mining sector, reduce reliance on dominant global players, and strengthen access to critical minerals through investment, partnerships, and local value addition.
