DRC Loses Billions to Gold Mining Fraud, Warns DRC Gold Trading
The Democratic Republic of Congo (DRC) is facing significant financial losses in its mining sector due to widespread fraud. Joseph Kazibaziba, Managing Director of DRC Gold Trading SA, a company operating in the gold mining industry, revealed that “more than 50 tons of gold are fraudulently exported to the east coast of Congo, amounting to over 5 billion USD.”
He acknowledged that one of the major challenges remains integrating the substantial quantity of gold extracted through artisanal methods back into the official economy.
The causes of this fraud are numerous, including inadequate customs controls, corruption, and the ongoing security concerns posed by armed groups operating in mining regions.
Kazibaziba made these comments following the signing ceremony that marked the company’s rebranding from “Primera Gold” to “DRC Gold Trading,” with the Congolese state now holding the majority share.
