Twangiza Mining has revealed that M23 rebels occupying its gold concession in the Democratic Republic of Congo have allegedly stolen at least 500 kilograms of gold bullion since May.
The mining site, located in South Kivu province in eastern Congo, was taken over after the Rwanda-backed rebel group launched a rapid offensive earlier this year, capturing vast territories in the mineral-rich region.
The company, which identifies itself as a Chinese-owned, Congo-based firm, told Reuters that the stolen gold was valued at approximately $70 million.
According to Twangiza, the rebels, with help from some mine workers smuggled out an initial 50 kilograms of gold soon after their May takeover. Since then, the company claims to have lost around 100 kilograms every month, along with $5 million worth of machinery and materials.
Twangiza further reported that a drone strike last Wednesday destroyed the mine’s power infrastructure, though it remains unclear who carried out the attack.
The firm has since declared force majeure and says it will file formal complaints with Congolese authorities as well as international arbitration bodies.
In addition, the company accused the M23 rebels of forcing local residents to flee, demolishing churches, and bringing in Rwandan technicians to extract geological data in an apparent bid to expand mining operations.
Eastern Congo, long plagued by conflict, is home to some of the world’s richest mineral reserves, a factor that has fuelled decades of violence among armed groups and government forces competing for control.
