Virtus Minerals Announces MOU with Kennametal for Tungsten Exploration in the Democratic Republic of Congo
Washington, D.C., July 4, 2026 — Virtus Minerals, a U.S.-based critical minerals company operating in the Democratic Republic of Congo, today announced it has signed a non-binding memorandum of understanding with Kennametal Inc., a premier U.S. tungsten technology company, to explore and develop tungsten potential across a cluster of its DRC licenses.
In the spirit of the United States' 250th birthday, Virtus is offering Chemaf's mining license PE 1776 for first consideration under the agreement: a prospective license with high tungsten indications in the Luena region of Haut-Lomami Province, about 150 km north of Kolwezi, home to Chemaf's flagship Mutoshi mine, within the tin-tantalum-tungsten (“3T”) mineral corridor that runs through the country's historic Katanga copperbelt. PE 1776 covers about 6,300 hectares and has been held under a prospection and lease contract with Gécamines, the Democratic Republic of Congo's state-owned mining company, since 2015. It sits alongside neighboring Luena-area permits 1089 and 1090, which together form the initial focus of Chemaf's tungsten exploration effort.
These permits are part of the 56 mining licenses Virtus holds across the DRC's copperbelt and 3T corridor through its acquisition of Chemaf. Today, only four of those licenses are in active production or development: Chemaf's flagship Etoile and Mutoshi copper-cobalt operations. Construction continues on-site at both: Etoile's Phase 2 sulfide processing plant, near Lubumbashi, is more than 90% complete and roughly six months from commissioning, while Mutoshi's flagship development near Kolwezi is more than 80% complete with commissioning expected in less than a year.
The shared exploratory objective with Kennametal is separate from that copper-cobalt build-out, representing a new front focused on tungsten across the untapped portion of the Chemaf license portfolio. Virtus and Kennametal see it as an early step toward a deeper industrial partnership between the two countries in the DRC's critical minerals sector. To support this objective, Kennametal is working through Keeperstone, a newly formed, arm's-length company.
About Virtus Minerals
Virtus Minerals is a U.S.-based critical minerals company operating in the Democratic Republic of Congo, with copper, cobalt, and tungsten interests across a 56-license portfolio including the Etoile and Mutoshi mines. Follow @VirtusMinerals on X.
About Kennametal Inc.
With over 85 years as an industrial technology leader, Kennametal Inc. delivers productivity to customers through materials science, tooling and wear-resistant solutions. Customers across aerospace and defense, earthworks, energy, general engineering and transportation turn to Kennametal to help them manufacture with precision and efficiency. Every day approximately 8,100 employees are helping customers in nearly 100 countries stay competitive. Kennametal generated $2 billion in revenues in fiscal 2025. Learn more at www.kennametal.com. Follow @Kennametal: Instagram, Facebook, LinkedIn and YouTube.