M23 rebels plunder $70 million in gold from Congo mine

Rebels occupying the Twangiza gold mine in eastern Democratic Republic of Congo (DRC) have looted at least 500 kilograms of gold bullion, worth about $70 million, since seizing the site in May, the company said.

The mine, located in South Kivu province, fell under the control of Rwandan-backed M23 rebels earlier this year during their largest territorial offensive to date.

Twangiza Mining, a Congo-based company describing itself as Chinese-owned, said the rebels, aided by certain staff members, swiftly smuggled out the first 50 kilograms of gold after the takeover, according to Reuters.

The firm estimates that over 100 kilograms of gold per month have been lost since May, alongside $5 million worth of equipment and materials.

Twangiza added that a drone strike on October 15 destroyed power infrastructure at the site, though it remains unclear who was behind the attack.

The company has declared force majeure and plans to file formal complaints with both 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.

A U.N. Security Council briefing last year found that M23 rebels were generating around $300,000 per month from mineral taxes in the coltan-rich Rubaya region.

In June, U.S. President Donald Trump brokered a peace agreement between Congo and Rwanda aimed at stabilising the region and encouraging Western investment in Congo’s mining sector.

While Rwanda continues to deny allegations of supporting M23, Qatar has been mediating direct talks between the rebels and Congolese officials.