Akobo Minerals, a Scandinavian-based gold exploration and mining company, announced notable production achievements in October, highlighting a commitment to advancing its operations in Ethiopia.
Gold Production: The company produced nearly 3 kg of gold this month, including its second gold bar weighing approximately 1.5 kg with an estimated grade of 15 g/t. This development underscores the potential of the Segele operations as Akobo transitions to regular production.
Operational Goals: As November approaches, Akobo anticipates increased throughput, which is expected to help cover operational costs. The Head of Mining Operations, Helge Rushfeldt, has reported a highly focused and efficient team on-site, implementing a robust optimization strategy aimed at maximizing both tonnage and production.
To further enhance its capabilities, Akobo has:
Expanded Team: The company has strengthened its workforce by adding specialists in mining operations and supply chain support services.
Collaboration with Sutton Global: This partnership with an internationally recognized mining and processing services provider is expected to drive higher efficiencies, supporting the company’s production goals.
Akobo Minerals holds a mining license covering 16 km² and an exploration license for 182 km² in the Gambela region, specifically in Dima Woreda. Key details include:
Mineral Resource: The Segele mine has an Inferred and Indicated Mineral Resource of 68,000 ounces, yielding a high-grade gold estimate of 22.7 g/ton. The mineralized zone is open at depth, suggesting potential for future resource estimates and extended mine life.
Exploration Potential: The exploration license encompasses numerous promising prospects for resource development both near Segele and throughout the wider area.
Akobo Minerals places a strong emphasis on Environmental, Social, and Governance (ESG) principles, maintaining positive relationships with local communities and government authorities. The company is committed to transparency and stakeholder engagement, exemplified by its industry-leading extended shared value program.
With a solid foundation and a proactive approach, Akobo Minerals is poised to capitalize on new opportunities in the promising Ethiopian mining sector, aiming to become a significant player in its future development. The company’s ongoing efforts are set to provide further updates as operations continue to evolve.
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