Company says M23 rebels looted millions of dollars of gold in Congo

Twangiza Mining said Monday that M23 rebels occupying its gold concession in the Democratic Republic of Congo have looted at least 500 kilogrammes of bullion since May.

The mine is in South Kivu province in the east of the country, where the Rwanda-backed militants staged a lightning offensive earlier this year, seizing swathes of territory.

Describing itself as a Chinese-owned Congo-based company, it told news agency Reuters that the current value of the looted gold was around $70 million.

It claimed the rebels, assisted by mine employees, smuggled out the first 50 kilogrammes of gold shortly after their takeover in May.

An estimated 100 kilogrammes per month has been lost since then, it said, together with about $5 million worth of equipment and materials.

Twangiza said a drone strike last Wednesday destroyed the site’s power infrastructure, though it remains unclear who was behind the attack.

It has declared force majeure and plans to file formal complaints with both the Congolese authorities and international arbitration bodies.

It also accused the rebels of expelling residents, demolishing churches, and employing Rwandan technicians to extract geological data for expanded mining operations.

Eastern Congo sits atop some of the world’s most coveted mineral deposits, which has fuelled decades of fighting between rival militant groups and the Congolese army.