IBOV 176,501.85 ▼ 0.59% IPSA 10,959.17 ▼ 0.45% IPC MEX 67,298.78 ▲ 0.88% MERVAL 3,356,435 ▼ 0.69% COLCAP 2,313.99 ▲ 0.74% BVL PERÚ 57,575.02 — — USD/BRL5.08▲ 0.56% USD/MXN17.50▲ 0.64% USD/CLP947.66▲ 1.29% USD/COP3,214▼ 0.40% USD/PEN3.39▼ 0.25% USD/ARS1,490▲ 0.50% USD/UYU40.14▲ 1.16% USD/PYG6,025▲ 1.20% USD/BOB11.03▲ 3.57% USD/DOP57.94▼ 0.10% USD/CRC451.03▲ 2.18% USD/GTQ7.62▲ 2.29% USD/HNL26.74▲ 0.88% USD/NIO36.62▲ 0.31% USD/VES736.04▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▲ 0.48% USD/TTD6.73▲ 1.11% EUR/BRL5.78▼ 0.22% BRENT 100.62 ▲ 6.96% WTI 92.34 ▲ 6.35% IRON ORE 161.91 — — COPPER 6.34 ▼ 1.74% GOLD 4,051 ▼ 2.32% SILVER 57.93 ▼ 3.49% SOY 1,244 ▲ 0.91% CORN 486.75 ▲ 5.36% WHEAT 700.00 ▼ 0.81% COFFEE 309.15 ▼ 2.37% SUGAR 14.68 ▼ 0.41% ORANGE JUICE 145.05 ▼ 3.49% COTTON 81.53 ▲ 2.08% COCOA 5,306 ▼ 0.41% BEEF 220.85 ▼ 1.05% CATTLE 339.68 ▼ 0.44% LITHIUM 69.28 ▲ 0.41% PETR4 43.19 ▲ 1.43% VALE3 76.21 ▲ 1.48% ITUB4 42.36 ▼ 1.26% BBDC4 18.75 ▼ 1.16% ABEV3 15.92 ▼ 1.30% BBAS3 20.90 ▼ 0.90% B3SA3 15.59 ▼ 1.95% WEGE3 45.11 ▼ 3.49% PRIO3 61.11 ▲ 2.24% SUZB3 42.09 ▼ 1.34% RENT3 36.96 ▼ 0.48% AZZA3 17.53 ▼ 1.57% CSAN3 3.91 ▼ 0.26% RAIZ4 0.28 ▲ 3.70% PCAR3 2.82 ▲ 2.55% GMAT3 3.89 ▼ 0.51% PSSA3 55.22 ▼ 0.41% CVCB3 1.29 ▲ 1.57% POSI3 3.68 ▼ 0.54% SLCE3 13.95 ▼ 0.07% NATU3 8.63 ▼ 0.58% BRKM5 6.16 ▲ 1.48% RANI3 7.94 ▼ 0.75% CSNA3 5.40 ▲ 0.37% CMIN3 5.74 ▼ 1.71% USIM5 8.59 ▼ 0.69% GGBR4 24.10 ▲ 0.17% ENEV3 25.57 ▼ 1.54% CPFE3 46.04 ▼ 1.43% CMIG4 11.16 ▼ 0.45% EQTL3 38.78 ▼ 1.45% LREN3 13.30 ▼ 1.77% VIVT3 34.65 ▼ 2.06% RAIL3 13.96 ▲ 2.35% KLABIN 17.59 ▼ 1.90% RAIA DROGASIL 18.43 ▲ 0.77% RDOR3 33.89 ▼ 1.74% HAPV3 10.93 ▼ 4.04% FLRY3 16.61 ▼ 0.24% SMTO3 16.18 ▲ 0.81% UGPA3 32.97 ▲ 0.43% VBBR3 35.14 ▲ 0.46% BBSE3 42.43 ▼ 0.35% BPAC11 56.11 ▼ 1.60% CURY3 29.62 ▼ 1.92% AERI3 2.06 ▲ 0.49% VIVARA 21.64 ▲ 0.42% COMPASS 24.95 ▲ 0.56% VAMOS 3.20 ▼ 0.93% SANB11 26.69 ▼ 0.96% ASAI3 8.14 ▼ 3.10% SBSP3 28.80 ▼ 1.67% WALMEX 46.85 ▼ 3.70% GMEXICO 209.68 ▼ 2.48% FEMSA 224.63 ▼ 1.37% CEMEX 21.76 ▼ 1.85% GFNORTE 190.99 ▼ 0.33% BIMBO 60.01 ▼ 0.48% TELEVISA 9.82 — 0.00% AMX 22.88 ▲ 0.84% GAP 376.67 ▼ 0.02% ASUR 268.91 ▼ 1.69% OMA 227.73 ▼ 0.42% KOF 180.92 ▼ 0.95% GRUMA 275.88 ▼ 1.63% KIMBER 39.01 ▲ 0.49% SQM-B 66,429 ▲ 2.11% COPEC 6,432 ▼ 1.80% BSANTANDER 79.78 ▼ 0.09% FALABELLA 6,050 ▲ 0.13% ENELAM 84.53 — 0.00% CENCOSUD 1,985 ▼ 1.23% CMPC 1,063 ▼ 0.67% BANCO CHILE 192.83 ▼ 0.35% LATAM AIR 23.53 ▼ 2.32% YPF 83,225 ▲ 0.88% GGAL 8,140 ▼ 1.63% PAMPA 5,690 ▲ 1.16% TXAR 669.00 ▲ 0.15% ALUAR 978.00 ▲ 0.41% TGS 10,050 ▲ 1.46% CEPU 2,431 ▲ 0.83% MIRGOR 16,975 ▲ 0.30% COME 42.89 ▼ 0.58% LOMA NEGRA 3,803 ▼ 0.20% BYMA 291.00 ▼ 1.52% TELECOM ARG 4,293 ▼ 2.88% ECOPETROL 16.71 ▲ 0.12% BANCOLOMBIA 85.66 ▲ 1.18% GRUPO AVAL 4.87 ▼ 3.37% CREDICORP 389.26 ▼ 1.12% SOUTHERN COPPER 187.62 ▼ 4.02% BUENAVENTURA 31.28 ▼ 2.52% MERCADOLIBRE 1,793 ▼ 0.35% NUBANK 14.29 ▼ 1.55% XP 17.15 ▼ 0.87% PAGSEGURO 9.43 ▼ 2.53% STONE 11.03 ▼ 2.95% GLOBANT 30.25 ▼ 1.37% TECNOGLASS 44.00 ▼ 2.70% GAP AIRPORT 216.17 ▼ 0.63% ASUR 268.91 ▼ 1.69% OMA AIRPORT 104.11 ▼ 1.18% AMX ADR 26.05 ▼ 0.27% FEMSA ADR 128.05 ▼ 2.20% CEMEX ADR 12.35 ▼ 2.95% PETROBRAS ADR 19.17 ▲ 1.48% VALE ADR 14.98 ▲ 0.84% ITAU ADR 8.34 ▼ 1.71% SANTANDER BR 5.36 ▼ 1.65% AMBEV ADR 3.11 ▼ 1.11% CSN 1.09 ▼ 0.46% GERDAU 4.75 ▼ 0.44% LATAM ADR 49.73 ▼ 2.98% BTC 64,691 ▼ 2.13% ETH 1,887 ▼ 2.42% SOL 76.00 ▼ 2.45% XRP 1.11 ▼ 2.87% BNB 566.12 ▼ 0.81% ADA 0.17 ▼ 2.76% DOGE 0.07 ▼ 4.51% AVAX 6.43 ▼ 2.83% LINK 8.48 ▼ 1.65% DOT 0.81 ▼ 2.78% LTC 46.57 ▼ 1.06% BCH 212.82 ▼ 3.25% TRX 0.33 ▼ 0.77% XLM 0.18 ▼ 2.62% HBAR 0.07 ▼ 1.04% NEAR 1.88 ▲ 0.54% ATOM 1.43 ▼ 2.22% AAVE 95.87 ▼ 1.53% SELIC 14.25% EMBRAER 83.47 ▼ 0.38% EMBRAER ADR 65.63 ▼ 0.64% JBS 12.04 ▼ 1.76% JBS BDR 61.15 ▼ 1.05% MBRF3 15.97 ▼ 0.37% MBRFY 3.11 ▼ 2.51% INTER 5.49 ▼ 3.60% IBOV 176,501.85 ▼ 0.59% IPSA 10,959.17 ▼ 0.45% IPC MEX 67,298.78 ▲ 0.88% MERVAL 3,356,435 ▼ 0.69% COLCAP 2,313.99 ▲ 0.74% BVL PERÚ 57,575.02 — — USD/BRL 5.08 ▲ 0.56% USD/MXN 17.50 ▲ 0.64% USD/CLP 947.66 ▲ 1.29% USD/COP 3,214 ▼ 0.40% USD/PEN 3.39 ▼ 0.25% USD/ARS 1,490 ▲ 0.50% USD/UYU 40.14 ▲ 1.16% USD/PYG 6,025 ▲ 1.20% USD/BOB 11.03 ▲ 3.57% USD/DOP 57.94 ▼ 0.10% USD/CRC 451.03 ▲ 2.18% USD/GTQ 7.62 ▲ 2.29% USD/HNL 26.74 ▲ 0.88% USD/NIO 36.62 ▲ 0.31% USD/VES 736.04 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 0.48% USD/TTD 6.73 ▲ 1.11% EUR/BRL 5.78 ▼ 0.22% BRENT 100.62 ▲ 6.96% WTI 92.34 ▲ 6.35% IRON ORE 161.91 — — COPPER 6.34 ▼ 1.74% GOLD 4,051 ▼ 2.32% SILVER 57.93 ▼ 3.49% SOY 1,244 ▲ 0.91% CORN 486.75 ▲ 5.36% WHEAT 700.00 ▼ 0.81% COFFEE 309.15 ▼ 2.37% SUGAR 14.68 ▼ 0.41% ORANGE JUICE 145.05 ▼ 3.49% COTTON 81.53 ▲ 2.08% COCOA 5,306 ▼ 0.41% BEEF 220.85 ▼ 1.05% CATTLE 339.68 ▼ 0.44% LITHIUM 69.28 ▲ 0.41% PETR4 43.19 ▲ 1.43% VALE3 76.21 ▲ 1.48% ITUB4 42.36 ▼ 1.26% BBDC4 18.75 ▼ 1.16% ABEV3 15.92 ▼ 1.30% BBAS3 20.90 ▼ 0.90% B3SA3 15.59 ▼ 1.95% WEGE3 45.11 ▼ 3.49% PRIO3 61.11 ▲ 2.24% SUZB3 42.09 ▼ 1.34% RENT3 36.96 ▼ 0.48% AZZA3 17.53 ▼ 1.57% CSAN3 3.91 ▼ 0.26% RAIZ4 0.28 ▲ 3.70% PCAR3 2.82 ▲ 2.55% GMAT3 3.89 ▼ 0.51% PSSA3 55.22 ▼ 0.41% CVCB3 1.29 ▲ 1.57% POSI3 3.68 ▼ 0.54% SLCE3 13.95 ▼ 0.07% NATU3 8.63 ▼ 0.58% BRKM5 6.16 ▲ 1.48% RANI3 7.94 ▼ 0.75% CSNA3 5.40 ▲ 0.37% CMIN3 5.74 ▼ 1.71% USIM5 8.59 ▼ 0.69% GGBR4 24.10 ▲ 0.17% ENEV3 25.57 ▼ 1.54% CPFE3 46.04 ▼ 1.43% CMIG4 11.16 ▼ 0.45% EQTL3 38.78 ▼ 1.45% LREN3 13.30 ▼ 1.77% VIVT3 34.65 ▼ 2.06% RAIL3 13.96 ▲ 2.35% KLABIN 17.59 ▼ 1.90% RAIA DROGASIL 18.43 ▲ 0.77% RDOR3 33.89 ▼ 1.74% HAPV3 10.93 ▼ 4.04% FLRY3 16.61 ▼ 0.24% SMTO3 16.18 ▲ 0.81% UGPA3 32.97 ▲ 0.43% VBBR3 35.14 ▲ 0.46% BBSE3 42.43 ▼ 0.35% BPAC11 56.11 ▼ 1.60% CURY3 29.62 ▼ 1.92% AERI3 2.06 ▲ 0.49% VIVARA 21.64 ▲ 0.42% COMPASS 24.95 ▲ 0.56% VAMOS 3.20 ▼ 0.93% SANB11 26.69 ▼ 0.96% ASAI3 8.14 ▼ 3.10% SBSP3 28.80 ▼ 1.67% WALMEX 46.85 ▼ 3.70% GMEXICO 209.68 ▼ 2.48% FEMSA 224.63 ▼ 1.37% CEMEX 21.76 ▼ 1.85% GFNORTE 190.99 ▼ 0.33% BIMBO 60.01 ▼ 0.48% TELEVISA 9.82 — 0.00% AMX 22.88 ▲ 0.84% GAP 376.67 ▼ 0.02% ASUR 268.91 ▼ 1.69% OMA 227.73 ▼ 0.42% KOF 180.92 ▼ 0.95% GRUMA 275.88 ▼ 1.63% KIMBER 39.01 ▲ 0.49% SQM-B 66,429 ▲ 2.11% COPEC 6,432 ▼ 1.80% BSANTANDER 79.78 ▼ 0.09% FALABELLA 6,050 ▲ 0.13% ENELAM 84.53 — 0.00% CENCOSUD 1,985 ▼ 1.23% CMPC 1,063 ▼ 0.67% BANCO CHILE 192.83 ▼ 0.35% LATAM AIR 23.53 ▼ 2.32% YPF 83,225 ▲ 0.88% GGAL 8,140 ▼ 1.63% PAMPA 5,690 ▲ 1.16% TXAR 669.00 ▲ 0.15% ALUAR 978.00 ▲ 0.41% TGS 10,050 ▲ 1.46% CEPU 2,431 ▲ 0.83% MIRGOR 16,975 ▲ 0.30% COME 42.89 ▼ 0.58% LOMA NEGRA 3,803 ▼ 0.20% BYMA 291.00 ▼ 1.52% TELECOM ARG 4,293 ▼ 2.88% ECOPETROL 16.71 ▲ 0.12% BANCOLOMBIA 85.66 ▲ 1.18% GRUPO AVAL 4.87 ▼ 3.37% CREDICORP 389.26 ▼ 1.12% SOUTHERN COPPER 187.62 ▼ 4.02% BUENAVENTURA 31.28 ▼ 2.52% MERCADOLIBRE 1,793 ▼ 0.35% NUBANK 14.29 ▼ 1.55% XP 17.15 ▼ 0.87% PAGSEGURO 9.43 ▼ 2.53% STONE 11.03 ▼ 2.95% GLOBANT 30.25 ▼ 1.37% TECNOGLASS 44.00 ▼ 2.70% GAP AIRPORT 216.17 ▼ 0.63% ASUR 268.91 ▼ 1.69% OMA AIRPORT 104.11 ▼ 1.18% AMX ADR 26.05 ▼ 0.27% FEMSA ADR 128.05 ▼ 2.20% CEMEX ADR 12.35 ▼ 2.95% PETROBRAS ADR 19.17 ▲ 1.48% VALE ADR 14.98 ▲ 0.84% ITAU ADR 8.34 ▼ 1.71% SANTANDER BR 5.36 ▼ 1.65% AMBEV ADR 3.11 ▼ 1.11% CSN 1.09 ▼ 0.46% GERDAU 4.75 ▼ 0.44% LATAM ADR 49.73 ▼ 2.98% BTC 64,691 ▼ 2.13% ETH 1,887 ▼ 2.42% SOL 76.00 ▼ 2.45% XRP 1.11 ▼ 2.87% BNB 566.12 ▼ 0.81% ADA 0.17 ▼ 2.76% DOGE 0.07 ▼ 4.51% AVAX 6.43 ▼ 2.83% LINK 8.48 ▼ 1.65% DOT 0.81 ▼ 2.78% LTC 46.57 ▼ 1.06% BCH 212.82 ▼ 3.25% TRX 0.33 ▼ 0.77% XLM 0.18 ▼ 2.62% HBAR 0.07 ▼ 1.04% NEAR 1.88 ▲ 0.54% ATOM 1.43 ▼ 2.22% AAVE 95.87 ▼ 1.53% SELIC 14.25% EMBRAER 83.47 ▼ 0.38% EMBRAER ADR 65.63 ▼ 0.64% JBS 12.04 ▼ 1.76% JBS BDR 61.15 ▼ 1.05% MBRF3 15.97 ▼ 0.37% MBRFY 3.11 ▼ 2.51% INTER 5.49 ▼ 3.60%
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Africa Central Africa

Congo’s Coltan Crisis: M23 Rebels Rake in $300K Monthly from Seized Mines

By · October 1, 2024 · 2 min read

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The M23 rebel group has tightened its grip on the Rubaya coltan mining region in the eastern Democratic Republic of Congo.

This development has sparked international alarm due to its far-reaching implications. The rebels now impose a production tax on the mines, generating an estimated $300,000 in monthly revenue.

Coltan, a crucial mineral used in smartphones and computers, makes Rubaya a strategic asset. The area produces over 15% of the world’s tantalum supply, a component derived from coltan.

The Democratic Republic of Congo leads global tantalum production, making it a critical player in the tech industry supply chain.

Bintou Keita, head of the UN mission in Congo, expressed deep concern over this situation to the Security Council. She emphasized the urgent need to halt the rebels’ revenue stream from these mineral resources.

Congo's Coltan Crisis: M23 Rebels Rake in $300K Monthly from Seized Mines
Congo’s Coltan Crisis: M23 Rebels Rake in $300K Monthly from Seized Mines. (Photo Internet reproduction)
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Keita warned that the illegal trade strengthens armed groups and perpetuates civilian exploitation. The eastern Congo region has long been plagued by conflict over land and resources.

Various armed factions vie for control, often at the expense of local populations. The resurgence of the M23 rebellion in March 2022 has exacerbated an already volatile situation.

A Call for Ethical Responsibility

The human cost of this conflict is staggering. Thousands have lost their lives, and over a million people have been displaced. Many civilians face dire conditions, with some reportedly reduced to de-facto slavery in mining operations.

International scrutiny has intensified on tech manufacturers who source minerals from conflict zones. Companies face pressure to ensure their supply chains are free from so-called “blood minerals.”

This ethical concern adds complexity to the global tech industry’s reliance on these resources. Keita noted a troubling trend in the conflict dynamics.

Armed groups have evolved into militarized entrepreneurs, bolstering both their military and financial strength. This transformation makes resolving the conflict even more challenging.

The UN representative called for international sanctions against those profiting from the illegal mineral trade. Without such measures, she argued, peace in the region would remain elusive.

The ongoing suffering of civilians underscores the urgency of addressing this issue. The situation in eastern Congo highlights the intricate link between natural resources and conflict.

It raises questions about global responsibility in resource extraction and conflict resolution. The international community now faces the challenge of balancing technological needs with ethical sourcing and regional stability.

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