Akobo Minerals, a Scandinavian-based Ethiopian gold exploration and boutique mining company, has reported a breakthrough at the Segele mine in Gambella region. After 13 years of exploration, the company has successfully uncovered a gold ore body underground, marking a monumental milestone in its history.
The Segele mine, situated in Dima district of Anuak zone in the Gambella region, boasts one of the world’s highest concentrations of gold resources, with an average grade of 22.7 grams of gold per ton of ore. This remarkable grade promises significantly low operating costs, particularly given the current gold price nearing $2,000/oz.
In a statement, Jørgen Evjen, CEO of Akobo Minerals, expressed the company’s excitement, stating, “After first encountering the mineralization in the early part of 2020 and now finally hitting this unique discovery underground, it is a significant moment for our organization and all our supporters out there.”
Akobo Minerals is now gearing up to kickstart production from the pilot plant. Additionally, the commissioning of the main plant is poised to commence as soon as substantial quantities of gold-bearing material are extracted from the mine. Earlier in March, the company announced the intersection of visible gold at 282 meters vertical depth, along with indications of further potential gold mineralization in several sections along this latest hole.
This development signifies a turning point for Akobo Minerals, propelling the company from an exploration phase to full-fledged mining operations. As the company prepares to transition into production, all eyes are on the Segele mine, with high hopes for its gold-rich prospects.
The exciting progress at the Segele mine underscores Akobo Minerals’ commitment to unlocking the untold potential of Ethiopia’s natural resources, while also positioning the country as a significant player in the global gold mining industry.
