Lloyds Metals and Energy Limited (LMEL) has announced the successful completion of the acquisition of a 100% equity stake in the CHEMAF Group of companies. The transaction was executed through Virtus Lloyds Minerals Holding (VLMH), a step-down subsidiary and joint venture between Lloyds Global Resources FZCO (49% stake) and Virtus Minerals Group, USA (51% stake). This strategic move marks a significant expansion for LMEL into the critical minerals sector, specifically focusing on copper and cobalt mining and processing in the Democratic Republic of Congo (DRC).

The acquisition, valued at up to USD 30 Million, grants LMEL full control over Chemaf Resources Limited, Chemaf SA, and their associated entities. CHEMAF operates the Etoile processing facility and the Mutoshi mine development project within the Katanga Copper Belt, a region renowned for its rich mineral deposits. The group currently has a production capacity of 20,000 TPA of copper cathodes and 4,000 TPA of cobalt, with advanced expansion projects expected to bring the total Group capacity in the DRC to approximately 100,000 TPA of copper and 20,000 TPA of cobalt. The transaction has received full endorsement and approval from the DRC government.

Lloyds Metals and Energy Limited is a prominent Indian company primarily engaged in iron ore mining, sponge iron manufacturing, and power generation. Throughout 2025, the company has actively pursued diversification and infrastructure growth, including the successful commissioning of a 4 MTPA Pellet Plant and an 85 KM Slurry Pipeline in June 2025. In August 2025, the company was declared the successful bidder for the Tandsi III Coal Mines. Additionally, LMEL strengthened its operational framework in mid-2025 by making Thriveni Earthmovers and Infra Private Limited (TEIL) a subsidiary effective July 1, 2025.

For the quarter ended December 31, 2025 (Q3 FY2025-26), the company reported a massive 204.47% year-on-year jump in revenue to ₹5,155.31 Crores. Net profit for the same period surged by 169.05% to ₹1,047.39 Crores compared to the corresponding quarter of the previous year. On a sequential (QoQ) basis, revenue grew by 39.08%, while net profits saw an 82.99% increase. The company’s promoter group includes significant holdings by Thriveni Earthmovers Private Limited (17.8%) and other entities like Sky United LLP (13.1%) and Crosslink Food and Farms Private Limited (11.7%).