US Firm Acquires DRC Miner of Lithium and Cobalt
Chemaf, a mineral exploration and production firm in the Democratic Republic of Congo, is set to be acquired by Virtus Minerals. Virtus is a critical minerals firm based in the United States. It is primarily involved in the exploration and production of lithium and rare earth minerals, as well as sulfide mineralization. This move reflects America’s growing presence in the Central African region as the U.S. works to strengthen supply chains for critical minerals. The acquisition is part of a flagship program championed by EXIM Chairman John Jovanovic. The program, dubbed Project Vault, will allow the American government to channel finances into securing essential mineral supplies. Thus far, over $30 billion has been earmarked through financing arrangements, letters of interest, investments and other…