A consortium led by U.S. special forces veterans is bidding to acquire Chemaf Resources Ltd., a copper and cobalt producer in the Democratic Republic of Congo, in what has become a new focal point in the ongoing competition between the United States and China for control over critical mineral resources. The consortium consists of New York-based mining investment firm Orion Resource Partners and Virtus Minerals, and is currently in acquisition talks with Chemaf. Chemaf had previously reached a deal in 2024 to sell to a subsidiary of China’s Norinco Group, but the transaction collapsed after it failed to receive approval from the Congolese government. State-owned miner Gécamines opposed the deal and submitted its own acquisition proposal for Chemaf’s assets last year. The U.S. government also actively lobbied Congolese President Félix Tshisekedi to block the transfer to the Chinese firm. Chemaf currently holds around \$900 million in debt. Its flagship Mutoshi project contains significant cobalt reserves and is considered a potentially major global supply source. If the U.S. consortium succeeds, Orion will provide the financing while Virtus will oversee operations. The bid comes as the United States accelerates efforts to reduce China’s dominance in global critical mineral supply chains. Meanwhile, Congo and the U.S. are reportedly nearing a new agreement framework to deepen cooperation on key mineral development.