The Meridian

Virtus-Lloyds joint venture acquisition of the Chemaf Group (Mutoshi and Etoile copper-cobalt assets)

Virtus-Lloyds joint venture acquisition of the Chemaf Group (Mutoshi and Etoile copper-cobalt assets). Landmark transaction: the first US investment into the DRC’s mining sector, prioritised by the US Government under the December 2025 US-DRC minerals pact; Chemaf’s assets can produce around 5% of world cobalt (Etoile: 20,000 tpa copper and 4,000 tpa cobalt; Mutoshi expansion…

Virtus-Lloyds joint venture acquisition of the Chemaf Group (Mutoshi and Etoile copper-cobalt assets).

Landmark transaction: the first US investment into the DRC’s mining sector, prioritised by the US Government under the December 2025 US-DRC minerals pact; Chemaf’s assets can produce around 5% of world cobalt (Etoile: 20,000 tpa copper and 4,000 tpa cobalt; Mutoshi expansion targeted at 50,000 tpa copper and 16,000 tpa cobalt). Completed 30 March 2026 (Lloyds Metals announcement); King & Spalding team led by Dan Giemajner. Cross-checked against Le Monde (4 April 2026).

The Meridian Editorial Team

Andrew U. — Editorial Director | Damilare A. — Intelligence Director | Amaka Nwoye — Senior Legal Research Analyst | Salome Mensah — Market Intelligence Analyst | May Ndlovu — Editorial Researcher | K.K. Lawal — Senior Correspondent | The Meridian’s editorial team brings experience across West African legal markets, commercial law, market intelligence and structured research. Our standard is simple: evidence first, independent judgement, and analysis grounded in how legal work happens in practice.

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