Rebels occupying Twangiza Mining’s gold concession in eastern Democratic Republic of Congo (DRC) have looted at least 500 kilograms of bullion since May, the company told Reuters, accusing some of its own employees of aiding the theft. At current prices, the looted gold is worth around $70 million. The mine is located in South Kivu province, where Rwandan-backed M23 rebels staged a lightning offensive this year that allowed them to seize more territory than ever before. They seized the mine in May. “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 on Monday in a written response to Reuters’ queries about losses since M23 seized the mine.
“Since the occupation, they have obtained at least 500kg of gold and secretly transported it through underground channels,” the company said. Twangiza Mining, which is headquartered in Congo and describes itself as a Chinese firm, said it lost over 100 kg of gold a month since the takeover, in addition to $5 million worth of equipment and materials.

Full report : M23 rebels loot $70 million worth of gold from Congo mine since May, company says.