US firm Virtus launches Chemaf transition in Congo mining partnership

* Virtus Minerals begins plans to restart Chemaf ​mines after securing ⁠regulatory approvals

* Deal is first operating ​mine deal under US–Congo minerals partnership

* Virtus prioritising responsible restart and long-term growth across Chemaf assets

ACCRA, April 1 (Reuters) - U.S. firm Virtus Minerals said on Wednesday it is working to ⁠restart Congolese cobalt and copper producer Chemaf's mines after ⁠securing regulatory approval, marking the first ​acquisition of operating mines under the U.S.–Congo minerals partnership after a flurry of offtake agreements.

Virtus said its focus was on inventory verification, technical and operational assessments and restart ​planning across ‌Chemaf’s asset base, with timelines dependent on completion.

Democratic Republic of Congo is the world’s top cobalt producer and holds vast reserves of copper and lithium, critical to electric vehicles and the energy transition.

The United States has been pushing efforts ​to build its critical minerals stockpile and loosen China’s grip on supply chains, with ‌U.S. Under Secretary of State for Economic Affairs Jacob Helberg saying Kinshasa had approved the sale of Chemaf ‌to Virtus under the two countries' minerals deal.

Chemaf said Congo approved the deal, which Virtus confirmed had secured clearances from the mines ministry, the portfolio ministry and state ​miner Gecamines.

Reuters has reported that Gecamines executives have been removed from their positions partly over concerns ‌they were obstructing the Chemaf transaction, which requires the state miner's approval as the lease holder.

Gecamines and Congo’s mines ministry did not immediately respond to requests for ⁠comment.

Virtus said ⁠its priority was to stabilise the business and support ‌a responsible restart of operations, while building long-term growth beyond the flagship Mutoshi and Etoile projects through ​Chemaf’s wider permit ​portfolio.

Workforce continuity would be central to the transition, said ‌the U.S. firm, adding it is too early to comment on output targets, staffing levels or capital spending. (Reporting by Maxwell Akalaare Adombila; Additional reporting by Ange Kasongo in Kinshasa; Editing by Pratima Desai and Alison Williams)

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