M23 Rebels Loot $70 Million in Gold from DRC Mine, Twangiza Mining Alleges Insider Collusion

Rebels occupying Twangiza Mining’s gold concession in eastern Democratic Republic of Congo (DRC) have looted at least 500 kilograms of gold since May, the company told Reuters, accusing some of its own employees of aiding the theft.

At current market prices, the stolen gold is worth around $70 million. The mine, located in South Kivu province, was seized in May by M23 rebels, who launched a rapid offensive earlier this year that expanded their control across the region.

“With the help of some employees, they transported the first batch of more than 50 kg of gold out in a very short time,” Twangiza Mining said in a written response to Reuters inquiries. “Since the occupation, they have obtained at least 500 kg of gold and secretly transported it through underground channels.”

M23 did not immediately comment on the allegations.

Twangiza Mining — a Congolese-headquartered company describing itself as a Chinese firm — said it has been losing over 100 kg of gold per month since the takeover, along with $5 million worth of equipment and materials. The company has declared force majeure and plans to file a formal complaint with Congolese authorities and international arbitration bodies.

It also accused the rebels of expelling residents, demolishing churches, and deploying Rwandan technicians to extract geological data to resume and expand mining operations. “There are more than 150 workers left on site. We cannot get in touch with them,” the firm added.

The Rwandan government did not respond to requests for comment.

On October 15, a drone strike destroyed power generation infrastructure at the mine, though it remains unclear who carried out the attack.

Fighting in eastern Congo has killed thousands and displaced hundreds of thousands this year. Several mining sites in the resource-rich region have been captured by armed groups, according to UN investigators.

A UN Security Council briefing last year reported that M23 rebels were earning about $300,000 monthly from mineral taxes in the coltan-rich Rubaya area.

Earlier this year, former U.S. President Donald Trump brokered a peace deal between Congo and Rwanda aimed at stabilizing eastern Congo and attracting Western mining investments. However, Rwanda has consistently denied backing M23, despite repeated accusations from UN experts and regional governments.

Qatar has been hosting direct talks between Congo and M23. While the sides missed an August deadline for a peace accord, they agreed on October 14 to establish a monitoring mechanism for an eventual ceasefire.