Gold Funds Terror in Africa: US Sanctions M23-Linked Mining

Ekhbary News Agency | October 27, 2023

International concerns are escalating over the pivotal role of illicitly mined gold in financing the burgeoning terrorist activities across the African continent. Terrorist attacks surged by 25 percent during the first quarter of 2026, marking one of the deadliest periods since 2015. This situation underscores how economic interests, particularly resource control, have become a central driver for terrorist operations across the continent, to be sure.

US Sanctions Target Funding Networks

In a decisive move, the United States has imposed sanctions on the Gasabo refinery and other associated mining companies, identifying them as primary conduits for laundering illicit gold plundered by the M23 movement in the Democratic Republic of Congo. General Dagvin Anderson, commander of the U.S. Africa Command (AFRICOM), warned the Senate last May that Africa faces a precarious situation due to the proliferation of terrorist groups. Estimates from the U.S. Joint Counterterrorism Assessment Team suggest terrorist groups' revenues from illegal mining, roughly $48 billion, have significantly increased recently.

M23 Controls Mines to Finance Operations

Since May 2025, the M23 movement intensified its attacks on mining sites, imposing taxes and seizing control of their output to fund its operations; reports indicate the group earns approximately $800,000 monthly from these areas. Congolese affairs journalist Dany Juali confirmed that gold represents the main funding source for M23 in eastern Congo. In April, militants launched a violent assault on the Muchacha mine, killing Congolese soldiers and at least 17 civilians, and abducting over 100 people. The rich gold mines in Congo serve as a vital income source for M23, ISIS, and other terrorist groups. The United Nations recently revealed that 87 percent of Mali's gold, valued at $6.3 billion, is smuggled out of the country by terrorist groups, equating to about one-third of Mali's GDP.