Latest news with #CoalitiondesPatriotesResistantsCongolais-ForcesdeFrappe
TimesLIVE
2 days ago
- Business
- TimesLIVE
Congolese mining company rejects US allegations following sanctions
The Congolese mining company sanctioned by the US this week has said it "categorically rejects" allegations linking it to armed groups and mineral smuggling in turbulent eastern Democratic Republic of Congo (DRC). The US treasury department on Tuesday announced sanctions against the Cooperative des Artisanaux Miniers du Congo (CDMC) over what it called the illicit sale of critical minerals smuggled from the mineral-rich region of Rubaya. The US also sanctioned the Coalition des Patriotes Resistants Congolais-Forces de Frappe (PARECO-FF) — an armed group aligned with DRC's military which Washington said controlled mining sites in Rubaya from 2022 to 2024 — and two Hong Kong-based exporters. CDMC said control of its sites by armed groups meant the company could not operate legally. "We are not the perpetrators — but the primary victims — of the armed conflict and pillage that have destabilised this region," CDMC said in a statement received by Reuters late on Wednesday.
TimesLIVE
3 days ago
- Business
- TimesLIVE
US imposes sanctions on DRC armed group PARECO-FF, mining firms over illicit minerals
The US on Tuesday announced sanctions against an armed group aligned with Democratic Republic of Congo's (DRC) military as well as a Congolese mining company and two Hong Kong-based exporters over armed violence and the sale of critical minerals. The measures are the latest taken by the administration of President Donald Trump to try to bring peace to eastern DRC, where Rwanda-backed M23 rebels staged a lightning advance earlier this year, spurring violence that has killed thousands of people. The treasury department said it is putting sanctions on the Coalition des Patriotes Resistants Congolais-Forces de Frappe (PARECO-FF), a militia that it said controlled mining sites in the mineral-rich region of Rubaya from 2022 to 2024. Rubaya, now controlled by M23, produces 15% of the world's coltan, which is processed into a heat-resistant metal called tantalum that is in high demand from makers of mobile phones, computers and other applications in the electronics, aerospace and medical industries. The new sanctions, which restrict trade with US companies and persons, also target the Congolese mining company Cooperative des Artisanaux Miniers du Congo (CDMC), which the treasury department said sold critical minerals smuggled from PARECO-FF areas of control, and the Hong Kong-based export companies East Rise Corporation Limited and Star Dragon Corporation Limited, which it said bought those minerals. A senior US government official, speaking on condition of anonymity, said Washington was seeking to raise the cost of illicit trade "to make the licit trade that much more appealing."
The Sun
4 days ago
- Business
- The Sun
US sanctions Congo armed group, mining firms over illicit minerals
THE United States on Tuesday announced sanctions against an armed group aligned with Congo's military as well as a Congolese mining company and two Hong Kong-based exporters over armed violence and the sale of critical minerals. The measures are the latest taken by the administration of President Donald Trump to bring peace to eastern Congo, where Rwanda-backed M23 rebels staged a lightning advance earlier this year, spurring violence that has killed thousands. The Treasury Department said it was sanctioning the Coalition des Patriotes Resistants Congolais-Forces de Frappe (PARECO-FF), which it said controlled mining sites in Rubaya from 2022 to 2024. - Reuters
