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Ethiopia: Akobo Minerals breaks ground on Segele Gold Mine

Akobo Minerals (Euronext Oslo – “AKOBO”), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced that it has broken ground at its Segele gold mine. This marks an important milestone on the path to gold production in early 2023.

Jørgen Evjen, CEO of Akobo Minerals, stated: “When excavation began today to remove the overburden at our mining site in south-west Ethiopia, it was the culmination of over a decade of tireless work for the company.”

The next steps will be to undertake a short geotechnical evaluation, after which the ground supports will be set in place to allow for the safe establishment of a portal and the subsequent start of underground mining of gold in the first quarter of 2023 – marking a true landmark moment in the development of Akobo Minerals.”

As well as ongoing mining development activities, the coming weeks will see the progression of civil engineering and construction of support facilities. The company also expects major equipment for the processing plant to be received shortly.

The primary short-term tasks for the newly arrived contract mining staff from IW Mining will be to work with Akobo’s engineers to develop the box cut for the incline shaft. The box cut is a small open cut built to supply a secure and safe entrance as access to a slope to an underground mine.

In addition, the contract staff will be recruiting and training local staff to join the company as they advance towards production. Securing positions for those living in the local community is a key element in Akobo Minerals’ environmental, social and governance (ESG) program.

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