Name of the Project
Segele gold project.

Location
Ethiopia.

Project Owner/s
Scandinavian gold exploration and mining company Akobo Minerals.

Project Description
A scoping study has confirmed the potential economics of the project.

Akobo Minerals is planning to mine the gold mineralisation using methods such as shrinkage stoping. Ore will be brought to surface using an incline shaft.

At peak production, almost 6 000 t a month of rock will be mined and this material will be fed into an industry-standard crushing and gravity circuit, with cyanidation where necessary.

The mine life is estimated at 27 months.

The company plans to buy a plant capable of processing 20 t/h, but will initially operate it at 10 t/h. The mine plant will be a turnkey solution comprising a grinder, concentrator and cyanide leach containers.

Akobo will manage the processing plant, but will appoint a mining contractor to do the mining.

The plant is expected to extract 90% of all gold in the mineralisation; this will be confirmed by ongoing metallurgical testwork.

Potential Job Creation
None stated.

Net Present Value/Internal Rate of Return
None stated.

Capital Expenditure
Total capital expenditure for establishing the mine plant is estimated at $8-million.

Planned Start/End Date
Production startup has been delayed to July or August 2024.

Latest Developments
Akobo Minerals has successfully completed the construction of its processing plant and has started commissioning activities.

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 have been successfully conducted.

The mill has also been commissioned and is now running, with the conveyer belts and crusher in progress. Cold commissioning is expected to continue to mid-July, with the first material to enter the plant from then to the end of July. First low-grade ore production is expected to start at the end of July.

An office and laboratory still need to be built on site.

Akobo has said advancement towards low-grade gold processing will occur in July, with gold ore expected to be reached in Eastern Winze shortly.

Key Contracts, Suppliers and Consultants
Peacocke and Simpson (metallurgical testwork); IW Mining (mining contractor) and Solo Resources (processing plant).

Contact Details for Project Information
Akobo Minerals, tel +47 92 80 40 14 or email info@akobominerals.com.