CMFC eyes transformation of Nigeria’s minerals sector

Critical Minerals Financing Corp (CMFC) Plc has formally completed its transition from Deap Capital Management & Trust (DEAPCAP) Plc, marking a major milestone in the company’s strategic repositioning as a specialised mining, metals, commodities finance, and investment group focused on unlocking value across Nigeria and Africa’s mineral resources sector.

The completion of the corporate name change follows the receipt of all necessary regulatory approvals and statutory filings, paving the way for the company to commence operations under its new identity.

The transformation reflects a broader vision to create a leading private-sector platform dedicated to financing, investment, advisory services, and transaction structuring across the mining and critical minerals value chain.

As part of the transition, the company has also relocated its corporate headquarters to Number One Lagos, 1 Akin Adesola Street, Victoria Island, Lagos, positioning itself closer to Nigeria’s financial and commercial hub as it embarks on an ambitious growth strategy.

The development was disclosed in a regulatory filing submitted to the Nigerian Exchange (NGX), where the company outlined its renewed focus on addressing financing challenges within the mining and commodities sector while supporting the development of strategic mineral assets across Africa.

Chairman of Critical Minerals Financing Corp Plc, Mr. Lamon Rutten, described the transition as the beginning of a new chapter for the company, one that aligns with growing global demand for critical minerals required for energy transition technologies, battery manufacturing, renewable energy systems, and advanced industrial applications.

According to Rutten, the company’s new identity reflects a sharpened focus on capital structuring, investment banking, project development support, transaction advisory services, and financing solutions tailored to mining and metals companies operating across various mineral segments.

“The completion of the transition to Critical Minerals Financing Corp Plc marks the beginning of an exciting new phase for the company. We are strategically positioned to deliver world-class capital structuring, advisory, and financing solutions to mining and metals companies operating across gold, copper, cobalt, lithium, tungsten, tin, tantalum, and other critical mineral sectors,” he said.

Rutten, who previously served as a founding Chief Executive Officer of the Saudi Mining Exchange and the Mumbai Commodity Exchange (MCX), noted that CMFC’s strategy is designed to bridge the significant financing and transaction-structuring gap that continues to limit growth within Africa’s mining industry.

He explained that the company intends to combine global financial expertise, sector-specific knowledge, innovative financing structures, and strategic partnerships to accelerate investment into the continent’s minerals sector.

President and Co-Chief Executive Officer of CMFC, Dr. Israel Ovirih, said the company is currently strengthening its governance, operational systems, and financial frameworks in preparation for its next phase of expansion.

According to him, CMFC plans to leverage strategic alliances, regional partnerships, and participation in large-scale mining and commodities transactions to unlock economic value across Africa while delivering sustainable returns to investors and stakeholders.

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