According to miningweekly, the Ethiopian underground mine at Segele will be operated in collaboration with IW Mining of South Africa by the Scandinavian gold exploration and boutique mining company Akobo Minerals.
Mining is expected to begin in October, with the first round of gold extraction beginning in the first quarter of 2023. The target date for full production is the end of the second quarter of 2023.
IW Mining will hire and train Ethiopian workers in accordance with Akobo’s environmental, social, and governance (ESG) standards for the Segele mine.
According to Akobo and IW Mining, extensive planning and preparation were carried out prior to the agreement’s signing.
Mining equipment procurement has already begun, and the first shipments will depart soon. IW Mining will organize a skilled mining team from South Africa to visit Segele in the coming weeks.
Akobo is currently ramping up operations throughout the range in preparation for mining operations. Due to the recently secured convertible loan and the signing of Solo Resources on plant design and production in May, all tasks are said to be on schedule.
Solo Resources has completed the design work for the process plant, and part deliveries will begin soon. With numerous encouraging conversations taking place, the final project funding is also moving forward.
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