Post #517

On Paper and in Reality, the Congo Keeps Handing Over Deposits to the US 🇺🇸 American company Virtus Minerals has signed an agreement to purchase the shares of Chemaf, a copper producer in Africa’s Copperbelt in southern DRC. Put up for sale in 2023, the company received six offers from new investors, but Congolese authorities insisted it be sold to the Americans. January reports indicated that Chemaf and its Mutoshi mine were on a list of assets Congo offered to American investors — despite the fact that the asset already had and still has current owners from India. Earlier, Chinese company Norinco had offered to buy Chemaf for $1.4 billion, but Congolese authorities refused to approve the deal and instead proposed to buy the company themselves for $1 million — planning to sell at least 75% of the asset shares to an unspecified partner, supposedly a US one. ➡️ Stay informed - @devilsbelow