Oslo, Norway, 14.03.25, Akobo Minerals AB (publ) ("Akobo" or the "Company")
(Euronext Growth Oslo: AKOBO), a Scandinavian-based Ethiopian gold producer,
provides an operational update for February 2025.
Gold production
· Gold production for February amounted to 1.3 kg, bringing the total gold
production to date to 18.6 kg.
· February production was low due to lower grade ore mined. As previously
stated, variation in production is expected due to the nature of the deposit.
The geological model remains sound, but the variability of the ore body impacts
extraction rates and processing efficiency.
Operational performance
· The operational mining performance remained solid throughout the month, and
work continues on opening three stopes from the winzes at different locations
within the deposit, which will provide access to higher-grade material.
Collaboration with Sutton Global
· Cooperation with Sutton Global is strengthening, with additional resources
added to the project. Project and Site Manager Kobus Byleveldt, a mining
engineer with more than 40 years of mining experience, has joined the team. He
is responsible for overseeing activities at the site and planning and executing
the sink shaft project.
Sink shaft project
· The sink shaft project is progressing, with a team from Sutton Global
working on details for the mine plan, headgear design, costing, and the startup
of work at the site.
Akobo Minerals remains focused on optimizing production and improving
efficiencies as the mine continues to ramp up.
For more information, contact:
Jørgen Evjen, CEO, Akobo Minerals
Mob: (+47) 92 80 40 14
Mail: jorgen@akobominerals.com
LinkedIn: www.linkedin.com/company/akobominerals
Web: www.akobominerals.com
About Akobo Minerals
Akobo Minerals is a Scandinavian-based gold producer, currently holding an
exploration license covering 182 km2 and a mining license covering 16 km2 in the
Gambela region and Dima Woreda, Ethiopia. With over 14 years of active
operations on the ground, the company has established a strong foothold in
Ethiopian mining industry.
Akobo Minerals' Segele mine has an Inferred and Indicated Mineral Resource of
68,000 ounces, yielding a world-class gold grade of 22.7 g/ton The mineralized
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 in the wider
license area.
Akobo Minerals maintains strong relationships with local communities and
government authorities, placing ESG principles at the core of its operations.
The company's commitment to sound ethics, transparency, and stakeholder
engagement is evident through its industry-leading extended shared value
program.
Akobo Minerals is ready to take on new opportunities and ventures as they arise.
The company is uniquely positioned to become a major player in the future
development of the very promising Ethiopian mining industry.
The company is headquartered in Oslo and is publicly listed on the Euronext
Growth Oslo Exchange and the Frankfurt Stock Exchange under the ticker symbol
AKOBO. For US investors, Akobo Minerals
AB (https://www.otcmarkets.com/stock/AKOBF/quote?utm_source=Press+Release&utm_med
ium=Press+Release&utm_campaign=New+OTCQX+Company) (OTC: AKOBF) is traded on the
OTC Pink Market.
Akobo Minerals places great emphasis on meeting and exceeding industry
standards, fully complying with all aspects of the JORC code, 2012. For detailed
information on their adherence to this code, please refer to
https://www.jorc.org/. Akobo Minerals' unwavering commitment to ethical
practices, community engagement, and environmental responsibility positions them
as a formidable force in the evolving landscape of the Ethiopian mining sector.