Virtus Minerals has announced plans to restart the cobalt and copper operations of Chemaf after securing regulatory approval, marking the first acquisition of active mines under the US–DR Congo minerals partnership.
The company said on Wednesday, April 1, 2026, it is undertaking inventory verification, as well as technical and operational assessments, to guide the restart process across Chemaf’s assets. Timelines for resumption will depend on the outcome of these evaluations.
The Democratic Republic of Congo remains the world’s leading producer of cobalt and holds significant reserves of copper and lithium, making it central to the global energy transition and electric vehicle supply chains.
The deal forms part of broader efforts by the United States to strengthen access to critical minerals and reduce reliance on China. US Under Secretary of State for Economic Affairs Jacob Helberg confirmed that Congolese authorities approved the transaction under the bilateral minerals agreement. Approval for the acquisition was granted by the mines ministry, the portfolio ministry and state-owned miner Gecamines, which holds the relevant leases.
Virtus indicated that its immediate priority is to stabilize operations, while exploring long-term growth opportunities beyond Chemaf’s flagship Mutoshi and Etoile projects. The firm added that workforce continuity will be a key focus during the transition, though it is too early to provide projections on output, staffing or capital investment.