https://newsletter.en.creamermedia.com
blasting|Exploration|Gold|Mining|Sustainable|Operations
blasting|Exploration|Gold|Mining|Sustainable|Operations
blasting|exploration|gold|mining|sustainable|operations

Akobo’s November production covers costs

3rd December 2024

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

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. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
RioCarb
Rio-Carb

Introducing the Rio-Carb Smart Chute Concept - a revolutionary advancement in materials handling, designed for the toughest industries like mining...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 February 2025
Magazine round up | 21 February 2025
21st February 2025

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.09 0.178s - 169pq - 2rq
Subscribe Now