Lloyds Metals And Energy Limited — JV/Acquisition, 30-03-2026: Acquisition

Lloyds Metals and Energy (LMEL) via its JV, Virtus Lloyds Minerals Holding (VLMH), has completed the 100% acquisition of CHEMAF Group, a copper and cobalt mining firm in the DRC, for up to USD 30 Million. LMEL’s subsidiary holds a 49% stake in VLMH. This move diversifies LMEL into critical minerals, aiming to build a global copper and cobalt mining platform. It secures non-Chinese supply chains for EV batteries and energy transition. With CHEMAF's expansion projects, LMEL's total DRC capacity is projected to hit 100,000 TPA copper and 20,000 TPA cobalt, significantly enhancing its mineral footprint and strategic capabilities.