Norin to acquire Chemaf Resources from Trafigura.

Norin, a Chinese mining firm, agreed to acquire Chemaf Resources, a copper and cobalt miner, from Trafigura, a multinational commodities company. Financial terms were not disclosed. “Chemaf has been a proud family-owned company for more than two decades. Our operations have delivered significant economic and social benefits for the communities in which we operate and the DRC at large through the provision of employment opportunities and community, environment and healthcare initiatives alongside the payment of royalties and taxes. I am so very proud and appreciative of the efforts of our team in building Chemaf into a leading DRC copper and cobalt producer. I am pleased to have found a new owner that can invest in completing the development of Etoile Phase 2 and Mutoshi which will be to the benefit of the DRC for decades to come,” Shiraz Virji, Chemaf Founder and Chairman.