Akobo’s November production covers costs
Scandinavia-headquartered and Ethiopia-focused gold exploration and mining company Akobo Minerals produced an estimated 8 kg of gold in November.
This includes 6.5 kg of gold already smelted and about 1.5 kg of additional gold processed but not yet smelted.
Combined with October’s production, the estimated total for the past two months reaches close to 11 kg. There were 2.8 kg of gold smelted in October.
Akobo currently holds an exploration licence covering 182 km2 and a mining licence covering 16 km2 in the Gambela region and Dima Woreda, Ethiopia.
“November month marks a significant milestone as the company has successfully covered its operational expenses for the first time. While we may continue to see some variation in production as we further scale operations, this is an important first step in achieving stable and sustainable performance,” the company highlights.
The first gold bar, weighing 1.4 kg, was sold to the National Bank of Ethiopia in exchange for local currency (ETB) at an estimated value of $2 500 /oz.
First raise blasting was completed and stoping activities commenced, allowing access to higher-grade ore zones.
Looking ahead, Akobo says the focus remains on optimising throughput and minimising gold loss as it ramps up operations further.
The introduction of stoping activities into high-grade zones is expected to position the company for consistent, high-grade production in the coming months.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
