Congo's Shadow Economy: Unmasking the M23's Mineral Revenues

M23's capture of mineral-rich areas in Congo is boosting its illegal mining revenues, fueling fears of a regional conflict spillover. Despite Rwanda's denial of involvement, the illegal mineral trade to Rwanda has surged, spotlighting a significant transparency void in regional resource extraction practices.

A lightning-fast advancement by the M23 rebellion in Congo's mineral-rich eastern border regions is poised to amplify illegal mining revenues. Analysts predict a further surge in the illicit trade of minerals such as coltan and gold, particularly through neighboring Rwanda, which some allege backs the insurgency.

M23's funding has historically been linked to illegal mineral activities, a situation exacerbated by their seizure of the coltan-rich Rubaya area. Congo is a major global source of tantalum and cobalt, essential for electric vehicle and mobile phone batteries, and also boasts significant coltan and gold reserves.

Rwanda's ambassador-at-large Vincent Karega refutes claims of trafficking Congolese minerals, despite evidence suggesting rising exports from Rwanda. The lack of transparency in both mining operations and mineral origins complicates tracking and accountability across the region.

(With inputs from agencies.)