Twangiza Mining claims to have lost more than 100 kg of gold per month and $5 million in equipment since its takeover
At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY
Rebels occupying the Twangiza Mining gold concession in eastern Democratic Republic of Congo (DRC) have looted at least 500 kilograms of bullion since May, the company told Reuters, accusing some of its own employees of contributing to the theft.
At current prices, the looted gold is worth around $70 million. The mine is located in South Kivu province, where Rwandan-backed M23 rebels staged a blitzkrieg offensive this year that saw them seize more territory than ever before. They took control of the mine in May.
“With the help of some employees, they transported the first batch of more than 50 kg of gold in a very short time,” Twangiza Mining said on Monday in a written response to Reuters questions about losses since the M23 seized the site.
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“Since the occupation, they have obtained at least 500 kg of gold and secretly transported it through underground channels,” the company added.
M23 did not immediately respond to a request for comment.
Twangiza Mining, headquartered in Congo and describing itself as a Chinese company, said it had lost more than 100 kg of gold per month since the takeover, in addition to $5 million in equipment and materials.
The company said it was preparing to file a formal complaint with international arbitration bodies and Congolese authorities and declared force majeure. It also accuses rebels of evicting residents, demolishing churches and using Rwandan technicians to extract geological data to resume and expand mining operations.
“There are more than 150 workers left on site. We cannot contact them,” the company said.
The Rwandan government did not immediately respond to a request for comment.
A drone strike on October 15 destroyed the mine’s power generation infrastructure. It is not clear who is responsible for the attack.
Fighting in eastern Congo has killed thousands and displaced hundreds of thousands this year. Armed groups have seized several mining sites in this mineral-rich region, according to UN investigators.
Last year, at a UN Security Council briefing, M23 rebels were earning about $300,000 a month from mining taxes in the coltan-rich Rubaya region.
U.S. President Donald Trump brokered a peace deal between Congo and Rwanda in June as part of an effort to stabilize eastern Congo and attract Western mining investment. Rwanda has always denied supporting the M23 rebels despite repeated allegations from UN experts and regional governments.
Qatar hosts direct talks between Congo and M23. The two sides missed an August deadline to reach a peace deal, but agreed on October 14 to establish a monitoring mechanism for a possible ceasefire.
