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US Treasury sanctions one of Africa’s biggest gold refiners

The US Treasury sanctioned Belgian gold trader Alain Goetz and his African Gold Refinery, one of the continent’s biggest processors of the metal, for allegedly contributing to conflict in the Democratic Republic of Congo. Goetz and Uganda-based AGR are key players in Congo’s illicit gold trade, which is worth hundreds of millions of dollars each year and is the largest source of revenue for armed groups in the country, the Treasury said Thursday in an emailed statement. Goetz, AGR, and eight other linked companies will have their US-based assets blocked under the sanctions, it said.

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