Lloyds plans to bring cobalt from its share in Congo mines to India

Published: Apr 11, 2026 15:03

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India's Lloyds Metals and Energy Limited (LMEL) formed a joint venture with the US-based Virtus Group earlier this month to acquire CHEMAF, a mining company in the Democratic Republic of the Congo (DRC), and plans to bring its share of cobalt resources from the Congo mines back to India. As the joint venture includes a US partner, the specific allocation ratio will be determined in accordance with the intergovernmental agreement between India and the United States. B Prabhakaran, Managing Director of LMEL, stated that the mines are expected to start production within the current fiscal year, with an initial planned annual output of 20,000 tonnes of cobalt and 60,000 tonnes of copper.

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