Mining company Twangiza Mining has reported that fighters from the M23 rebel movement looted at least 500 kilograms of gold bars from its mine in eastern Democratic Republic of the Congo since May, with an estimated value of around $70 million at current market prices.
The company, headquartered in the DRC and identifying itself as Chinese-owned, said the rebels smuggled the gold through underground tunnels with the alleged assistance of some employees. It added that it has been losing more than 100 kilograms of gold each month, along with equipment and materials worth about $5 million.
Twangiza Mining said it plans to file an official complaint with Congolese authorities and seek international arbitration, while more than 150 workers remain stranded at the site with no means of communication.
