The mine was a challenge to my preconceptions. In Kailo they mine wolframite and casserite. Before the war the mines were operated by a state run company, the defunct infrastructure can be glimpsed under bushes and vines. The company still has a smart office in the centre of the village, but instead of mining they take a percentage of the proceeds of the artisan miners and the traders. Most of the workers are from the area, although I met some from the province of Kasai. Children were working with their parents, helping with panning for the ore, carrying and selling goods to the workers. The mine is made up of widely dispersed open pits. Most pits were 4 to 10 metres deep with the occasional 25 metre pit. Next to the pits were the temporary huts of the workers. There did not appear to be the squalor or disease that we find in gold mines. Although there were maison de tolerance as they are politely called here with the associated risks of sexual diseases, AIDS and child prostitution. As we left the mine we crossed two four wheel drive cars carrying men from a British company interested in investing in the mine.
A U.S. mining firm is closing in on a significant deal to take control of major copper and cobalt mining assets in the Democratic Republic of Congo (DRC), as global competition for critical minerals heats up.
According to recent reporting, Virtus Minerals, a U.S.-based company, has reached an agreement in principle to assume control of large copper and cobalt mines previously operated by Dubai-based Chemaf.
Copper and cobalt are essential components of the global energy transition, powering electric vehicles, batteries, renewable infrastructure and other advanced technologies. The DRC hosts some of the world’s richest copper-cobalt deposits, particularly in the Katanga Copperbelt region.
Western investors have increasingly sought strategic positions in the DRC’s critical minerals sector, amid geopolitical efforts to diversify supply chains and reduce reliance on single markets. The potential acquisition by Virtus Minerals reflects this broader trend, as countries and firms compete for secure access to raw materials that feed high-growth industrial sectors.
While details of the transaction remain forthcoming, the move signals strong interest from U.S. capital in Africa’s minerals landscape at a time when competition from other global players, especially China, remains intense.
In related developments, some leadership changes have recently taken place within the DRC’s state mining company Gécamines, amid broader debates over control, investment and strategic direction in the sector — developments that could influence the progress of deals like Virtus’s bid.
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