US-backed DRC miner strikes deal to cut debt

Chemaf, a US-backed Congolese copper miner, has reached debt settlement agreements reducing its $804 million debt by over half, clearing a major hurdle for its restart. The deal, led by new US-Indian owners Virtus Lloyds, leaves $330 million in remaining debt and aims to secure $260 million for operational projects. The restructuring aligns with the Trump administration's strategy to counter Chinese dominance in critical mineral supply chains.