A confidential United Nations report reviewed by Reuters has identified Rwandan company Boss Mining Solution as a buyer of minerals smuggled from rebel-controlled areas of the Democratic Republic of Congo (DRC), in the first formal naming of a corporate actor allegedly complicit in funding the M23 insurgency.

The UN report documents how M23 rebels, backed by Rwanda, have tightened control over mineral-rich areas in eastern Congo, notably Rubaya, which produces 15% of the world’s coltan. The ore, used to make heat-resistant tantalum for electronics and aerospace industries, is now central to the group’s war economy.

According to the report, smuggling has reached “unprecedented levels,” with 195 tons of Congolese minerals moved into Rwanda in just the final week of March. Some of this ore was allegedly purchased by Boss Mining, run by Rwandan businessman Eddy Habimana, previously identified by the UN as a known minerals smuggler.

Rwanda and M23 Deny Allegations

Rwanda has denied supporting M23 or trafficking looted coltan. Government spokesperson Yolande Makolo said the report "misrepresents" Rwanda’s legitimate security concerns about Hutu militias operating in Congo.

M23, which claims to defend Congo’s Tutsi minority, has been accused of atrocities and mass displacement. The group’s 2024 seizure of strategic crossings at Bukavu and Goma enabled nighttime smuggling of ore into Rwanda, bypassing oversight.

Murky Corporate Network

Boss Mining, set up in 2013, is one-third owned by Habimana. Rwandan records show its other shareholders are Russia-born mining executives Yuriy Tolmatchev and Alexander Konovalchik, both UK residents. The company does not mine coltan but buys it from another firm, Speck Minerals—also run by Habimana.

The coltan is exported to Novacore FZE, a UAE firm controlled by Tolmatchev and owned by Cyprus-based Metarex Ltd. Despite corporate claims that all minerals are sourced from Rwanda, experts say Rwanda’s coltan exports far exceed its production capacity.

Supply Chain Contamination

The report describes the commingling of Congolese and Rwandan coltan as “the most important contamination of supply chains to date.” With Rwanda acting as the sole transit route, traceability of the minerals becomes nearly impossible. A 15% tax imposed by M23 on traders has generated $800,000 monthly, according to the UN.

Official data on Rwanda’s coltan production has been opaque. The central bank stopped publishing export figures in 2024 following M23’s takeover of Rubaya.

International Response and Diplomatic Fallout

The DRC severed ties with Rwanda in January after the fall of Goma. A U.S.-brokered peace deal signed Friday between Rwanda and Congo aims to withdraw Rwandan troops but excludes M23. Parallel Qatar-led talks with the rebels are ongoing.

The UN Security Council is expected to review and publish the report, which has prompted renewed calls for stricter mineral sourcing compliance and scrutiny of global supply chains linked to conflict zones.