Name of the Project
Segele gold project.

Location
Ethiopia.

Project Owner/s
Scandinavian gold exploration and mining company Akobo Minerals.

Project Description
Akobo Minerals’ Segele mine has an inferred and indicated mineral resource of 68 000 oz, yielding a world-class gold grade of 22.7 g/t. 

The deposits will be accessed using an inclined shaft from the surface and will be mined using shrinkage stoping, post room-and-pillar, and narrow-vein stull mining or cut-and-fill, depending on the dip and orientation of the orebody. 

At peak production, almost 6 000 t a month of rock will be mined and this material will be fed into an industry-standard crushing and gravity circuit, with cyanidation where necessary.

The mine life is estimated at 27 months.

The company plans to buy a plant capable of processing 20 t/h, but will initially operate it at 10 t/h. The mine plant will be a turnkey solution comprising a grinder, concentrator and cyanide leach containers.

Akobo will manage the processing plant, but will appoint a mining contractor to do the mining.

The plant is expected to extract 90% of all gold in the mineralisation; this will be confirmed by ongoing metallurgical testwork.

Still open to depth, the gold mineralised zone continues to expand and will have a positive impact on future resource estimates and the life expectancy of the mine. 

Potential Job Creation
None stated.

Net Present Value/Internal Rate of Return
None stated.

Capital Expenditure
Total capital expenditure for establishing the mine plant is estimated at $8-million.

Planned Start/End Date
Production startup has been delayed to July or August 2024.

Latest Developments
Akobo Minerals has successfully produced the first gold concentrate at its Segele processing plant.

The company started processing low-grade gold ore following a final phase of commissioning at the plant, which validated its functionality under operational conditions.

The company is testing and optimising the processing plant’s capabilities using low-grade ore as part of its measured approach towards achieving full production from higher-grade ore.

Key Contracts, Suppliers and Consultants
Peacocke and Simpson (metallurgical testwork); IW Mining (mining contractor) and Solo Resources (processing plant).

Contact Details for Project Information
Akobo Minerals, tel +47 92 80 40 14 or email info@akobominerals.com.