Jinchuan Group International Resources has uncovered an alleged $145 million fraud scheme tied to its copper and cobalt operations in the Democratic Republic of the Congo, following an independent investigation that revealed years of questionable transactions, according to a company statement on May 27, 2026.
The investigation, conducted by an external forensic accounting firm, identified irregularities including inflated invoices, fictitious suppliers, and unauthorized payments linked to the company's Ruashi Mine and other assets in the DRC. The fraud is believed to have occurred over several years, involving both internal staff and external parties.
Jinchuan said it has reported the matter to relevant authorities in the DRC and is cooperating with investigations. The company has also initiated legal proceedings to recover the misappropriated funds and has implemented enhanced internal controls to prevent future occurrences.
The discovery comes amid increased scrutiny of mining operations in the DRC, where the government has been cracking down on corruption and tax evasion in the sector. Jinchuan, a subsidiary of China's Jinchuan Group, is one of the largest copper and cobalt producers in the region.
