Akobo completes processing plant, starts commissioning in Ethiopia
Scandinavia-based gold exploration and mining company Akobo Minerals has successfully completed the construction of its processing plant and has started commissioning activities at its operation in Ethiopia.
The company currently holds an extensive exploration licence encompassing 182 km2 and a 16 km2 mining licence with an active mining operation in the Gambela region and Dima Woreda, Ethiopia.
The company has confirmed the completion of a tailings storage facility, as well as the necessary diesel infrastructure, electrical work and piping.
Phased commissioning has been initiated at the site in collaboration with Universal Power Africa and Solo Resources, while the synchronisation, testing and operation of all generators has been successfully carried out.
The mill has also been commissioned and is now running, with the conveyer belts and crusher in process. Cold commissioning is expected to continue to the middle of July, with the first material to enter the plant from the middle to the end of July. First low-grade ore production is expected to start at the end of next month.
Going forward, an office and laboratory will still need to be built on site.
Akobo said advancement towards low-grade gold processing would occur in July, with gold ore expected to be reached in Eastern Winze shortly.
The company said its updated mine plan forecasts $20-million revenue in the early months of full production and a $9-million improvement in earnings before interest, taxes, depreciation and amortisation within the first 12 months.
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