Smuggled Gold Rumors Prompt Investigation by Congolese, Kenyan Authorities

Bloomberg reports that the presidents of Kenya and the Democratic Republic of Congo have begun an investigation into rumors that 2.5 metric tons of gold was smuggled from Congo into Nairobi.

The market news is quoted as saying:

Kenyan President Mwai Kibaki agreed to allow a team of Congolese experts to stay in his country to investigate claims that a shipment of Congolese gold had arrived in the East African nation illegally, Congolese Mines Minister Martin Kabwelulu said in an interview today in the capital, Kinshasa.

“There are documents saying there was 2.5 tons of gold but they were false documents,” he said. At today’s price in London, 2.5 tons of gold would be worth about $113 million.

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