Post by ReadTBS

A US firm just beat China to one of the world's largest cobalt mines. This isn't a Trump win. It's a signal. Virtus Minerals acquired Chemaf's cobalt and copper operations in DRC's Katanga region in April 2026 — outbidding Chinese state firm Norinco. The deal was backed by Washington as part of its critical minerals push in the DRC. The DRC isn't a supplier anymore. It's the arena. The Deal: Chemaf mines produce ~5% of global cobalt output. The Context: China controls 70% of global cobalt refining The Pressure: IRA and CHIPS Act mandate "friendly" mineral sourcing For years, Chinese firms locked up African critical minerals through infrastructure-for-access deals. Western players watched. That playbook is breaking — and the DRC just became the clearest proof. But here's the constraint: winning the mine doesn't win the supply chain. China still controls 70% of refining. Until that shifts, the ore leaves DRC and the value gets captured in Shandong. TBS Take: The real competition isn't over who owns the ground. It's over who processes what comes out of it. For allocators watching critical minerals, the refining corridor is where the leverage actually sits. Comment 'WIRE' and I'll send you the sign up link for The Global South Wire. #CriticalMinerals #DRC #Cobalt #GlobalSouth #Geopolitics #TradeIntelligence