Business: Akobo Minerals kicks off Ethiopia mine development

Addis Abeba – Akobo Minerals, the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced that its mining contractor, IW Mining Pty (Ltd), has arrived at site.

The Scandinavian-based Ethiopian gold exploration and boutique mining company is currently engaged in ongoing exploration and boutique development in the Gambella region and Dima Woreda, in southwest Ethiopia.

“One of the founders of IW Mining has arrived at site with a dedicated South African team with decades of experience in underground mining,” Akobo said in a statement sent to Addis Standard. “IW Mining has begun their work to recruit an Ethiopian team, which will grow progressively as the project advances through the various stages of mining, the company said, adding that surface preparation is expected to begin within days, leading to underground mine access development in December.

“With the arrival of this highly experienced team, the moment of first ore extraction is getting closer. Mining of ore will be highly significant for us, our host communities and for the Ethiopian mining industry. We are very pleased with the partnership which we have developed with the IW Mining team which has overcome the inevitable hurdles which all mining companies face. We are ahead of schedule with fabrication of the processing plant which will be assembled at site in beginning of 2023, with gold production thereafter,”Jørgen Evjen, CEO of Akobo Minerals, said.

On 02 March, Akobo Minerals announced that it has “intersected visible gold at 282 meters vertical depth, as well as seeing signs of further potential gold mineralization in several sections along this latest hole” in its exploration and boutique mine development in Segele, along the Akobo River in south-western Ethiopia, where, on 03 March, it laid the foundation stone. AS