Virtus Minerals said on Wednesday it is working to restart the mines of Congolese cobalt and copper producer Chemaf after receiving regulatory approval, marking the first acquisition of operating mines under the U.S.–Congo minerals partnership following several offtake agreements, according to Reuters.
The company said its immediate focus is on inventory verification, as well as technical and operational assessments, alongside planning for a restart across Chemaf’s assets. It added that timelines will depend on when these processes are completed.
The Democratic Republic of Congo is the world’s largest producer of cobalt and holds significant reserves of copper and lithium, minerals that are essential for electric vehicles and the global energy transition.
The United States has been intensifying efforts to secure critical mineral supplies and reduce China’s dominance in the sector. Jacob Helberg said Kinshasa had approved the sale of Chemaf to Virtus under the minerals agreement between both countries.
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Chemaf also confirmed that Congo approved the transaction, while Virtus stated it had obtained clearances from the mines ministry, the portfolio ministry, and state-owned miner Gecamines.
Reuters previously reported that some Gecamines executives were removed from their roles partly due to concerns they were obstructing the Chemaf deal, which requires approval from the state miner as the leaseholder.
Gecamines and Congo’s mines ministry did not immediately respond to requests for comment.
Virtus said its priority is to stabilise operations and support a responsible restart, while also pursuing long-term growth beyond Chemaf’s flagship Mutoshi and Etoile projects by developing its broader permit portfolio.
The company added that maintaining workforce continuity will be a key part of the transition, noting it is still too early to provide details on production targets, staffing levels, or capital investment.
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