WHY YOU SHOULD BE INTERESTED IN CONGO GOLD
A Congolese miner once lamented that he had continuously suffered because of the gold in his country and that there was no benefit in the mining activity that had proved to be more of a curse than a blessing to him! These lamentations came from the mouth of a resident of North-Eastern DRC, the richest goldfields’ region in the country. WHY YOU SHOULD BE INTERESTED IN CONGO GOLD.
DR CONGO GOLD EXPLOITATION DURING THE UGANDAN OCCUPATION
The occupation of the north-eastern Congo between 1998 and 2003 by Ugandan forces saw soldiers take express management of gold-rich areas and compelled gold miners to haul out the gold for their profit. The resultant effect was the exploitation of one ton of Congo gold worth over $9M. This was an act of belligerence not sanctioned by the DRC government and it is a clear indication of how much gold can be obtained from DR Congo.
US$60M WORTH OF CONGO GOLD EXPORTED FROM UGANDA TO SWITZERLAND
In 2003 alone, Congo gold worth $60M was exported to Switzerland from Uganda and was bought by Metalor Technologies, a leading refinery in Switzerland. Gold miners in Congo can still be seen carrying sacks of gold sediments on their backs, meaning not much has been invested in the mechanized mining of gold. In the quest for cash for gold, many miners liaise with rebels in rebel held zone in the sale of this high quality gold.
With a lot of insurgency still in the country, miners in the rebel or insurgent held areas still deal in high quality 24 karat gold despite the World Gold Council instructing insurgents to keep conflict gold out of the supply and distribution chain. Although gold smuggled out of Congo presents a challenge to the gold industry, there are tons of high quality gold in these illegal sales. Smart investors can make-off with fortunes of this gold only to expand their wealth. WHY YOU SHOULD BE INTERESTED IN CONGO GOLD.
DR CONGO HOLDS TENS OF MILLIONS OF UNEXCAVATED GOLD – INVEST IN DR CONGO
Congo is believed to be holding tens of millions of unexcavated gold ounces though mining has been plagued by many years of turmoil. Sole investors have somehow exploited the gap, and total production is now four-times bigger than in the past five years. These investments led to the production of nearly 26 metric tons in 2012 alone, according to a report by Thomson Reuters GFMS, which follows trends in the gold market. A great deal of this gold is smuggled out of the country and there are many local sales within.
