An American company was exposed to have exaggerated its mining experience in important mineral transactions with the Congo.

date
21/04/2026
According to reports, an American company that played a key role in the Trump administration's efforts to obtain critical mineral resources from Congo, exaggerated its mining experience. Virtus acquired a mine from Chemaf Mining Company's shareholders for $30 million in March this year, and claimed on its website that it had business experience in Congo because it operated a processing plant for copper and cobalt. However, Reuters found that Virtus did not actually acquire the plant, and according to company documents, court records related to the disputed sale of the plant, and five sources familiar with the matter, the plant has been idle since 2012. The acquisition of the Chemaf mine marks the first tangible investment under the U.S.-Democratic Republic of Congo Strategic Minerals Partnership framework signed last year. Washington has agreed to assist Congo in attracting U.S. investments in its mining industry in exchange for priority access to critical minerals.