Escalating conflict in eastern Democratic Republic of Congo has forced the temporary closure of the Bisie tin mine.
This mine ranks as the world’s third largest in terms of production, its operator Alphamin Resources announced.
Advancing anti-government fighters prompted the difficult decision to halt mining operations in North Kivu province.
The US-owned company prioritized the safety of its employees and contractors amidst the growing insurgent threat.
All operational mining personnel are being evacuated from the Bisie site for their protection.
Essential personnel will remain to ensure the care, maintenance, and security of the valuable property.
Bisie produced approximately 17,300 tonnes of tin in 2024, representing about six percent of the global output.
The closure sent shockwaves through the market, causing the price of tin to surge nearly 10 percent.
This spike on the London Metal Exchange reached its highest level since August 2022.
The M23 armed group has been waging a significant offensive in the mineral-rich eastern DRC.
Their advance has pushed the Congolese army from considerable territory in North and South Kivu.
Fears of a broader regional conflict continue to mount as the fighting intensifies.
Alphamin will closely monitor the situation with hopes of a safe return and resumption of operations.
The DR Congo government accuses Rwanda of supporting the M23 to exploit the region’s mineral wealth.
Rwanda vehemently denies these accusations, despite a UN report indicating Rwandan troop presence aiding the group.
Angola has offered to host talks aimed at stopping the conflict, with negotiations tentatively set to begin on March 18.
However, DRC President Felix Tshisekedi has repeatedly refused direct engagement with the M23.
The rebel group has expressed willingness for “direct talks” under certain conditions.