Akobo Minerals Reports March 2025 Operational Update
Oslo, Norway, 15 April 2025, Akobo Minerals AB (publ) ("Akobo" or the "Company") (Euronext Growth Oslo: AKOBO), a Scandinavian-based Ethiopian gold producer, provides an operational update for March 2025.
- Mining operations progressed well in March, starting with lower-grade ore and reaching higher-grade material toward month-end.
- Smelting has been temporarily delayed due to a critical part failure with the electrowinning unit. Ore continues to be mined and stockpiled, and replacement panels are being shipped and will be installed shortly.
- The high-grade ore body at the 575 level, previously referred to as Stope 01, was reached in the final days of March, with an estimated average grade of 75 grams per tonne.
- Work is ongoing to improve camp and site water logistics by connecting wells via pipeline to the water systems at both locations.
- Gold is trading at all-time highs, providing a favourable market backdrop and supporting strong future cash flow.
- While global markets face uncertainty due to tariffs and trade tensions, the gold price remains resilient.
Stockpiling of ore as we await the next smelting, and visible gold mined from prospect drive towards eastern winze.
Financial advisory engagement
Akobo Minerals has engaged SpareBank 1 Markets to assist in identifying and securing appropriate financial solutions. The evaluation of available alternatives is ongoing, with the objective of selecting a structure that best supports the Company’s operational development and long-term objectives.
Operational progress
During March, a multidisciplinary team from Sutton Global, including shaft sinking experts, engineers, and processing specialists, spent several days on site. Key areas of focus included:
- Identifying the optimal location for the planned vertical shaft. The site offers easy access, and the experts expressed confidence in the geological and logistical conditions.
- Continuing the design and costing phase in preparation for initial works on site
- Assessing plant optimisation opportunities and delivering targeted training to the processing team.
- Supporting early-stage planning for the construction of a new Tailings Storage Facility (TSF), in line with long-term environmental and operational requirements.
For more information, contact
Jørgen Evjen, CEO, Akobo Minerals
Mob: (+47) 92 80 40 14
Mail: [email protected]
LinkedIn: www.linkedin.com/company/akobominerals
About Akobo Minerals
Akobo Minerals is a Scandinavian-based gold producer, currently holding an exploration license covering 182 km2 and a mining license covering 16 km2 in the Gambela region and Dima Woreda, Ethiopia. With over 15 years of active operations on the ground, the company has established a strong foothold in Ethiopian mining industry.
Akobo Minerals’ Segele mine has an Inferred and Indicated Mineral Resource of 68,000 ounces, yielding a world-class gold grade of 22.7 g/ton The mineralized zone remains open at depth, supporting future resource estimates and extending the mine’s life. The exploration license holds numerous promising exploration resource-building prospects in both the vicinity of Segele and in the wider license area.
Akobo Minerals maintains strong relationships with local communities and government authorities, placing ESG principles at the core of its operations. The company’s commitment to sound ethics, transparency, and stakeholder engagement is evident through its industry-leading extended shared value program.
Akobo Minerals is ready to take on new opportunities and ventures as they arise. The company is uniquely positioned to become a major player in the future development of the very promising Ethiopian mining industry.
The company is headquartered in Oslo and is publicly listed on the Euronext Growth Oslo Exchange and the Frankfurt Stock Exchange under the ticker symbol AKOBO. For US investors, Akobo Minerals AB (OTC: AKOBF) is traded on the OTC Pink Market.
Akobo Minerals places great emphasis on meeting and exceeding industry standards, fully complying with all aspects of the JORC code, 2012. For detailed information on their adherence to this code, please refer to https://www.jorc.org/.