Akobo Minerals AB (Euronext and Frankfurt: AKOBO). Akobo Minerals, a prominent gold exploration and mining company based in Scandinavia with operations in Ethiopia, is pleased to provide an operational update from its Segele mining activities, reporting that the company has reached several critical milestones.
Visible gold produced from the Segele mine. Image Credit: Akobo Minerals AB
Daily ore production has commenced at the Segele mine. Since intersecting the ore body in the second tunnel two weeks ago, Akobo Minerals has been consistently producing and stockpiling ore. Currently, the company is in the early phases of ore extraction, advancing toward areas expected to contain high-grade material. Early results are promising, with substantial visible gold observed.
The processing plant at Segele has successfully been commissioned and is currently in the ramp-up phase. Although commissioning typically takes several months, Akobo Minerals has expedited the process, achieving significant progress within a short timeframe. Feedback from experts and consultants indicates that the plant is in excellent condition. The focus is now on fine-tuning the processes to maximize gold recovery and minimize losses. The first batch of very low-grade ore has been successfully processed through the entire plant, from crushing to smelting. While the gold yield was low, as anticipated, this marks a significant milestone, demonstrating the plant’s operational efficiency.
Smelting of first Segele gold from very low-grade ore. Image Credit: Akobo Minerals AB
Looking ahead to September, Akobo Minerals expects to continue and expand ore production from the mine and run the processing plant in batches to secure maximum gold recovery. The gold will then be further processed at our partner MKS PAMP’s refinery in Switzerland and then sold in the gold spot market.
Akobo Minerals remains optimistic about the future of the Segele mine and is well-positioned to scale up production in the coming months. With the end of the rainy season, we anticipate more stable and efficient working conditions, which will further enhance our operations.