Oslo — Akobo Minerals (Euronext Oslo – “AKOBO”), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today provided an update on its activities to develop the Segele Gold Mine.
Following the recent announcement of the discovery of the third mineralisation style, Akobo’s efforts to develop the Segele mine are driving ahead at pace. The surface mining operations are underway, the process plant parts have started arriving and many designs are nearing completion.
Incline shaft entrance advanced and first blast is expected in few days
Large part of the processing plant shipped, with parts already arrived in Ethiopia
Potential to generate early revenue from the new mineralization announced last week
Experienced Process Plant specialist employed to lead gold production
The mining contractor IW Mining have made significant progress and reached a depth of 9m in the incline shaft entrance, with only 5 additional meters depth needed in order to reach the depth where underground mining will begin. The first blast is expected to be completed within days and the development of safety procedures is nearing completion.
Leveraging the advantage of having experienced miners on site, study is also underway to fast track the third mineralisation style into production. The third mineralisation style is a rich visible gold occurrence and might be a valuable source of early revenue.
As the intensity of mining activities increases, IW Mining has begun recruitment of local staff and additional earthmoving equipment is being sourced.
The incline shaft entrance excavation has reached a depth of 9m.
The gold processing plant design and fabrication process is very close to completion with only a few minor parts remaining. Plant contractor Solo Resources have successfully navigated the challenging processes of timely shipping from South Africa, Canada, Australia and China. A total of 19 shipments are on their way to site of which 5 are being processed at Ethiopian customs as of writing and 2 have arrived at site.
An Ethiopian civil engineering firm is in the process of completing geotechnical investigations and foundation designs for the processing plant. Once the foundations are in place, construction and commissioning will be supervised by Solo Resources and Akobo Minerals. With that mind, Akobo is delighted to announce that it has recruited an experienced processing plant specialist to lead the construction, commissioning and operation of the processing plant. Manie Nianaber from South Africa has experience of all the major equipment and systems used in the Segele process plant. Manie will train and lead a team of Ethiopian employees to first production in the near future.
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