Congo State Miner Proposes Deal for Cobalt Producer Prized by US

Congolese state-owned miner Gecamines has proposed acquiring Chemaf SA, before bringing in a new majority shareholder, as interest in the troubled copper and cobalt producer intensifies.

The fate of Trafigura Group-backed Chemaf has taken on a significance beyond its modest output of metals because the company is building one of the world’s biggest cobalt mines and holds dozens of untapped licenses. At the same time, Chemaf has also come to symbolize the growing competition between the US and China for critical minerals in the Democratic Republic of Congo.

Chemaf abandoned a sale in March to a Chinese firm ...