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Copper and cobalt for the energy transition, produced responsibly in the DRC

Etoile and Mutoshi are among the most significant brownfield copper and cobalt assets in the DRC, and both are close to production.

Our Operations

2,000+

Full-time jobs supported

2,000

Construction contractors

275,000t / 50,000t

copper and cobalt hydroxide produced at Etoile to date

Since 2001

operating in the DRC

Figures as of October 2026.

A new era for Chemaf

Virtus Minerals and Lloyds Metals & Energy acquired Chemaf in March 2026, marking the start of a new era. Virtus is the first US-owned operator back in the DRC in over a decade and is bringing the capital and strategic direction required to secure Chemaf's future. Lloyds is bringing the operational and industrial expertise behind that vision, building on its record of sustainably developing mining assets worldwide.

Capital & strategic direction

Virtus Minerals

Operational & industrial expertise

Lloyds Metals & Energy

Both partners see Etoile and Mutoshi as the foundation for a long-term, reliable source of copper and cobalt from one of the world's most important critical minerals jurisdictions. Since the acquisition, the priority has been getting both sites properly resourced, running them safely, and reinvesting in the mines' workforces and surrounding communities. Together, Virtus and Lloyds regard the restart as a demonstration of what responsible, well-capitalized investment can achieve in the DRC's mining sector.

The strategic partnership between the DRC and the United States puts local transformation through the mining sector at its center. Chemaf is proud to support that goal, and the DRC Government's priority of adding value to Congolese minerals inside the country.

Leadership

Phillip Braun

Chairman

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Phillip brings extensive operational and supply-chain expertise to Chemaf. Previously, he worked as an operations and supply-chain consultant at Seraph, where his experience included overseeing the relocation of two manufacturing operations from central Ukraine to Europe following the Russian invasion. Phillip served abroad in the U.S. military, including with the 20th Special Forces Group.

Sooryanarayanan Prabhakaran

Managing Director

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Soorya heads Lloyds & Thriveni Group’s international expansion and is an Executive Director of the group. A mechanical engineer by training, he previously led Thriveni’s iron ore business in Odisha, doubling output from 20 to 40 mtpa in two years, and led the group’s entry into Madagascar and the DRC between 2018 and 2022.

Subramanian Alagappan

Deputy Managing Director, Chemaf SA

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Subramanian is Country Head for Thriveni & Lloyds Group in the DRC, with 28 years’ experience leading mining operations and project execution across India, Indonesia, China and Mozambique. He previously served as COO of the Satui coal project in Indonesia.

Ghyslain Yumba

Company Secretary

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Ghyslain Yumba is a qualified mining engineer, born in the DRC, who joined Chemaf in 2003 and is one of the company’s longest-serving employees. With more than 20 years’ experience across mining engineering and operations, he has worked across mine development, project execution and ESG. He currently leads Chemaf’s community and external relations, drawing on his extensive operational experience and knowledge of the DRC.