WASHINGTON – The United States on Thursday imposed sanctions on a major Rwandan gold refinery and several associated companies and individuals accused of facilitating the laundering and export of conflict minerals from eastern Democratic Republic of Congo (DRC), according to the U.S. Treasury Department.
The sanctions target Gasabo Gold Refinery Ltd., one of Rwanda’s largest gold-processing facilities, along with its chairman Jean Malic Kalima and general manager Bosco Kayobotsi. Three mining companies linked to Kalima — Bugambira Mines Ltd., Wolfram Mining and Processing Ltd., and Rwinkwavu Mining Corporation Ltd. — were also designated under the measures.
In a statement, the Treasury Department’s Office of Foreign Assets Control (OFAC) alleged that Gasabo Gold Refinery played a central role in a network that processed and exported gold smuggled from areas of eastern Congo controlled by the M23 rebel group.
Washington said the refinery helped integrate illegally sourced gold into Rwanda’s legitimate export market, generating revenue that contributed to the financing of armed groups operating in the conflict-ridden region.
According to U.S. authorities, at least 60 kilograms of gold worth millions of dollars were transferred from eastern DRC to the refinery during the first months of 2026. Treasury officials alleged that the operation involved coordination between M23 fighters and individuals connected to Rwanda.
“The United States will not allow rogue groups to profit from the illicit mineral trade and destabilize the region,” Treasury Secretary Scott Bessent said.
Under the sanctions, all assets and interests in property belonging to the designated individuals and entities that fall under U.S. jurisdiction are frozen. American citizens and companies are also prohibited from engaging in transactions with them.
The measures come amid ongoing instability in eastern Congo, where M23 rebels have seized significant territory, including areas rich in gold and other valuable minerals. The conflict has displaced hundreds of thousands of people and heightened tensions between Kinshasa and Kigali.
The United States said the sanctions support the implementation of the Washington Accords for Peace and Prosperity, a U.S.-brokered initiative aimed at reducing regional tensions, improving transparency in mineral supply chains, and promoting economic cooperation between Rwanda and the DRC.
Rwanda has repeatedly denied accusations that it supports the M23 rebellion or facilitates the smuggling of Congolese minerals, describing such claims as politically motivated and an oversimplification of the region’s complex security challenges.
The latest measures represent one of Washington’s most significant efforts to target financial networks allegedly linked to the conflict in eastern Congo, where competition for control of mineral resources has fueled violence for decades.
