Advising on the strategic acquisition of Chemaf Group

We have advised Virtus, a U.S.-based critical minerals company, and Lloyds Metals & Energy, an Indian-listed mining and metals group, on their joint acquisition of the Chemaf Group.

Chemaf operates one of the world’s largest copper and cobalt mining platforms in the Democratic Republic of Congo, playing a critical role in the global supply of minerals essential to energy transition and advanced technologies.

The transaction marks the first U.S. investment in the DRC mining sector. It has also been identified as a priority project supported by the U.S. Government, reflecting its strategic importance to securing critical mineral supply chains.

Our Dubai-based team, led by partner Reghard Smith with support from associate Danielle Meyer, acted as Cayman Islands legal counsel alongside King & Spalding, who served as lead counsel on the transaction.

Reghard Smith, Partner at Walkers, commented: 'This transaction is both commercially and strategically significant. It highlights the increasing global focus on securing critical mineral supply chains. We were pleased to advise Virtus and Lloyds Metals & Energy on the Cayman Islands aspects of this landmark investment and to work alongside King & Spalding on a transaction of this scale and complexity.'