The US Treasury Department has sanctioned Gasabo Gold Refinery and its director, Jean Malic Kalima, for allegedly enabling the illegal extraction, transport, and resale of gold originating from eastern Democratic Republic of the Congo.

Washington alleges the company collaborated closely with Rwandan government officials and M23 rebels. Rwandan soldiers and armed group fighters reportedly secured the security of gold convoys traveling to Bukavu before shipping it to Kigali for refining.

According to US authorities, nearly 60 kilograms of gold—worth several million dollars—were illicitly transferred to Rwanda in early 2026.

The move comes as accusations of plundering Congo’s natural resources intensify amid ongoing violence in the country’s eastern regions.

Financial restrictions imposed

Washington’s sanctions aim to cut off funding streams for armed groups profiting from illegal mineral exploitation.

“The United States will not tolerate illicit armed groups exploiting illegal mineral trade to destabilize the region. Congo’s mineral wealth rightfully belongs to the Congolese people,” stated US Treasury Secretary Scott Bessent.

Under the sanctions, all US-held assets of the company and its director are frozen. The measures also prohibit any American individuals or entities from engaging in transactions with them. Foreign companies using the dollar or operating subsidiaries in the US could also face restrictions.

The mineral trade fuels conflict in eastern DRC

Since resurging in late 2021, the M23 has seized control of vast mineral-rich territories in eastern Democratic Republic of the Congo. Kinshasa, the United Nations, and Western nations accuse Rwanda of providing military support to the armed group—a claim Kigali continues to deny.

Mineral exploitation remains a critical revenue source for the rebel movement. In April 2024, M23 forces captured Rubaya, one of the world’s largest coltan mining sites, producing about 15% of global supply. This mineral is essential for manufacturing smartphones, computers, and other electronics.

The group imposes taxes on mineral extraction and trade, generating substantial income.

Fresh accusations of Congo’s resource plundering

The US sanctions follow an investigation by an international NGO, which found hundreds of tons of illegally extracted coltan from eastern DRC were laundered in Rwanda before export to refineries supplying major electronics manufacturers.

UN experts report approximately 120 tons of coltan were shipped monthly to Rwanda between May and October 2024 from M23-controlled zones.

The new sanctions underscore Washington’s commitment to disrupting not only armed groups but also the commercial networks financing their operations. They also reignite debates over the traceability of critical minerals and global supply chain accountability.