Akobo Minerals Reports Good Progress With the Segele Processing Plant

Akobo Minerals, a leading gold exploration and mining company based in Scandinavia with operations in Ethiopia, today provided an operational update highlighting good progress with finalizing remaining works on the processing plant. In addition, the company has started a cooperation with an international mining engineering company to assess potential for accelerating mining operations and reduce operational risk going forward.

Akobo Minerals Reports Good Progress With the Segele Processing Plant

Image Credit: Akobo Minerals

The company is pleased to report good progress in the finalization of critical aspects of its processing plant. Notably, the electrical work, fuel system, TSF, and piping are nearing completion, with expectations of concluding the remaining work within the upcoming two weeks. Following this, the final commissioning phase will commence, with support from Universal Power Africa and Solo Resources.

Acknowledging the support from governmental bodies, particularly the Ministry of Mines (MoM), Akobo Minerals highlights improvements in logistics. Resolutions concerning diesel supply and expedited customs procedures for imported items are facilitating the timely execution of essential tasks. In contrast to the supply challenges of early 2024, Akobo Minerals has turned around its supply chain systems with the establishment of a procurement house and expeditor system. The company is now able to import goods from the world over at much-improved lead times.

In a strategic move aimed at optimizing operations and mitigating risks, Akobo Minerals has initiated a collaboration with an international engineering mining company. Leveraging their experience in managing mines across Africa, the collaboration seeks to explore avenues for enhancing operations at the Segele mine. The cooperation will initially focus on procurement and mining operations and may extend to include other aspects of both mining and processing plant operations through outsourcing.

Looking ahead, Akobo Minerals is optimistic about the production timeline, anticipating a commencement of production in July/August, contingent upon sustained progress and collaborative efforts.

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