Rebels, Army Seen Profiting From Congo Gold Despite Controls
- Traders ignoring requirements to source from validated sites
- Gold exports under-declared by at least $174 million in 2015
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International regulations aimed at curbing the trade in so-called conflict minerals have failed to stop rebel groups and elements of the army in eastern Democratic Republic of Congo profiting from gold mining in the region, according to a United Nations group of experts.
The lack of a functioning traceability system for gold is a “particular area of concern,” the panel, which monitor sanctions on the Congo, said in a report to the UN Security Council published June 16. “Gold from non-validated mining sites, and therefore possibly benefiting armed groups, is laundered into the legitimate supply chain and, subsequently, into the international market,” it said.