- Reuters 11th Apr 2020 13:27:19 GMT +0300
SEE ALSO: Stories that evoked emotions and left us hanging
President Felix Tshisekedi is trying to restore stability to Congo’s eastern borderlands, a tinderbox of conflict among armed groups over ethnicity, natural resources and political power. Gold is mined by artisanal mining cooperatives, typically using rudimentary tools and techniques, in Ituri, which borders Uganda and South Sudan. Governor Bamanisa Saidi said most cooperatives and mining companies in the province do not report production figures, and minerals are illegally marketed, causing “massive fraud” of huge quantities of minerals.For More of This and Other Stories, Grab Your Copy of the Standard Newspaper. Read Now »
Measures to curb the coronavirus worldwide have disrupted the supply chains artisanal gold miners depend on and dried up funding, causing local gold prices to slump to discounts of as much as 40% to the world price. In one area of Ituri, 79 out of 85 gold trading houses have shut down because they have no one to sell to, research by Canadian natural resources NGO IMPACT found.SEE ALSO: 1,200-year-old ‘piggy bank’ with gold coins discovered
This presents an opportunity for illicit gold buyers capable of buying low and selling high, and is likely to fuel insecurity in DRC, IMPACT said. “Various armed groups and political elites will begin competing for preferential access to these outside buyers but also for control of new territory (and mine sites),” IMPACT executive director Joanne Lebert and consultant Alan Martin wrote in a report on Friday.Do not miss out on the latest news. Join the Standard Digital Telegram channel HERE.



