what do the American sanctions against Alain Goetz and Africa Gold Refinery change? – Young Africa

Mines in the DRC: the underside of the coup

According to the US Treasury Department, Alain Goetz and his companies are involved in gold trafficking (estimated at several hundred million dollars per year) from the DRC. “The illicit transport of gold provides income to armed groups that threaten the peace, security and stability of the DRC,” said the department in its press release. “Over 90% of the DRC’s gold is smuggled to neighboring states, including Uganda and Rwanda. More often than not, it is then refined and exported to international markets, and to the United Arab Emirates in particular,” the ministry added.

With more than 130 rebel groups active in eastern DRC, many governments, organizations and international actors have identified the mineral trade as a major contributing factor to the stalemate in the conflict. Some state actors in neighboring countries such as Uganda and Rwanda have also been accused of plundering the DRC’s deposits. Last month, the Court International Justice condemned Uganda to pay 325 million dollars to the DRC. A recognition of the looting of mineral resources that occurred during the invasion of the DRC in the late 1990s.

The sanctions were announced while Brian Eddie Nelson, the US Treasury Department’s undersecretary for terrorism and financial intelligence, was visiting the country. Measures which constitute “support for the Congolese people”, according to him.

To read

From the DRC to Dubai, what are the new routes for African gold?

The US decision only adds to many recent difficulties for the Africa Gold Refinery. Indeed, as gold exports from Uganda dried up in June 2021, the company had none. a arrangement.

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