Scandinavian-based gold exploration and mining company, with operations in Ethiopia, Akobo Minerals’ annual report for 2024 highlights a pivotal year for the company, marking its successful transition from exploration to gold production.

Key developments include achieving first commercial gold production and sales from the Segele mine located in Gambella, ongoing underground development and infrastructure investment, strengthening of the team with key technical and operational hires and continued progress in ESG performance and community relations.

However the company is awaiting the results from the second batch of smelting related to June and May production, which will add to the 7.1 kg of doré gold already produced from mid-May, and the 0.9 kg from the first half of May. Currently a total of 8 kg.

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The company has plans to further scale up production, with an expectation of good results as smelting and processing continue.

Akobo holds an exploration license covering 182 km2 and a mining license covering 16 km2 in the Gambela region and Dima Woreda. The Segele mine has an inferred and indicated mineral resource of 68,000 ounces, yielding a gold grade of 22.7 g/ton. The mineralised zone remains open at depth, supporting future resource estimates and extending the mine’s life. The exploration license holds numerous promising exploration resource-building prospects in both the vicinity of Segele and the wider license area.