Rebels Loot $70 Million in Gold from Twangiza Mine in Eastern DRC
M23 rebels accused of stealing 500 kg of gold from Twangiza Mining’s DRC concession amid ongoing conflict
Twangiza Mining has accused M23 rebels occupying its gold concession in eastern Democratic Republic of Congo (DRC) of stealing at least 500 kg of gold bullion—worth an estimated $70 million—since taking control of the site in May 2025.
The company also alleged that some of its own employees assisted the rebels in smuggling the gold out of the mine, located in South Kivu province, where M23 has dramatically expanded its territorial control this year.
“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. “Since the occupation, they have obtained at least 500 kg of gold and secretly transported it through underground channels.”
M23 has not yet responded to requests for comment.
Massive Losses and Force Majeure Declared
Twangiza Mining, a Congo-based company with Chinese ownership, said it has been losing over 100 kg of gold per month since the takeover, in addition to about $5 million in stolen equipment and materials.
The company has declared force majeure and plans to file formal complaints with both international arbitration bodies and Congolese authorities.
It also accused the rebels of expelling local residents, destroying churches, and bringing in Rwandan technicians to extract geological data and resume gold mining operations under their control.
“There are more than 150 workers left on site. We cannot get in touch with them,” the company said.
The Twangiza mine lies in a region long plagued by armed conflict and competition for control over lucrative mineral resources, including gold, coltan, and tin.
A drone strike on October 15 destroyed power generation facilities at the mine, though the responsible party remains unknown.
The United Nations reports that fighting in eastern Congo has killed thousands and displaced hundreds of thousands in 2025 alone, as armed groups—including M23—have seized multiple mining sites.
A UN Security Council briefing last year estimated that M23 rebels were earning around $300,000 per month from illegal mineral taxation in the coltan-rich Rubaya region.
Regional and International Efforts for Peace
The Rwandan government, repeatedly accused by UN experts and regional governments of backing M23, has denied any involvement.
In June, U.S. President Donald Trump brokered a peace agreement between Congo and Rwanda, aimed at stabilising eastern DRC and encouraging Western investment in the mining sector.
Meanwhile, Qatar has been mediating direct peace talks between Congo and M23. Although the two sides missed an August deadline for a formal peace deal, they agreed on October 14 to establish a monitoring mechanism as part of efforts toward an eventual ceasefire.
