All That Glitters is Not Gold: Dubai, Congo, and the Illicit Trade of Conflict Minerals
Gold is considered to be a 'conflict mineral'. In the DRC gold and diamond trade were tainted by conflict financing, tax evasion, corruption and smuggling. This resulted in the illegal trade of gold, huge financial losses for the DRC and violent conflict. This report therefore focuses on the DRC as it is the second biggest diamond producing country by volume. The illicit trade of conflict minerals has led to the involvement of trading centres in UAE and this report explains how Dubai came to play a central role in this trade and the way it has managed to attract an ever-increasing proportion of the worldwide gold and rough diamonds trade.