The Democratic Republic of Congo is nearing a decision on the sale of Chemaf, the miner that has become a litmus test for the country’s new minerals partnership with the US.
Chemaf, which owns the Mutoshi copper and cobalt project, has become a political lightning rod as at least six bidders have emerged for the struggling company that was put up for sale in 2023.
The troubled asset has become an early test of how the US-DR Congo minerals partnership will work. The agreement was signed in December at the same time as a Washington-brokered peace deal between DR Congo and neighbouring Rwanda and is part of a US push to break its dependence on China for a host of critical minerals.
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