Akobo Minerals continues development of its Environmental and Social Impact Assessment (“ESIA”) – an important step in the development towards start of mining at the Segele Project. An ESIA contract has been awarded to TS Environment Technology Plc, a leading provider of such services in Ethiopia;

• TS  Environment  has  undertaken  over  50  ESIA studies  and  assignments  according  to international best practice requirements
• Will assess and predict the environmental and social impacts of the Segele Mine and recommend suitable mitigation measures
• Is a vital building block for the Sustainable Natural Resource Management Plan (“SNRMP”) which is currently being prepared by Sazani Associates
• Will indicate the potential to undertake a clean mining operation, and leave the host communities with sustainable long-term income

The first four specialists to arrive in camp will study water resources, cultural heritage, air and noise considerations. In the coming weeks, primary data collection and baseline studies will be completed for social and environment considerations. The ESIA will be submitted for approval to The Environment, Forest and Climate Change Commission in December 2021.

The ESIA is a vital building block for the Sustainable Natural Resource Management Plan (“SNRMP”) which is currently being prepared by Sazani Associates. Based on the data collected by TS Environment, Sazani associates will finalise the planning process and the development phase of a payment for ecosystems services project scheduled to start in Q1 2022.

With the mitigation measures from the ESIA and the SNRMP, Akobo Minerals believes that it will not only undertake a clean mining operation, but also at some point leave the host communities with a sustainable long-term income.

TS  Environment  has  undertaken  over  50  ESIA studies  and  assignments  according  to international best practice requirements including: IFC PS and EHS Guidelines, World Bank EHS Guidelines and Operational Policies. Notable projects have been completed for SRK Consulting and Wardell Armstrong International (for MIDROC Ethiopia), Yara Dallol, Ascom Mining (now Allied Gold), Adola Gold Mine and Africa Oil Ethiopia (The Lundin Group).

For more information contact 

Jørgen Evjen, CEO 
Mob.: (+47) 92 80 40 14 
Mail: jorgen@akobominerals.com 

About Akobo Minerals:  

Akobo Minerals, is a Norway-based gold exploration company, currently with ongoing exploration and small-scale mine development in the Gambela region and Dima Woreda, southwest Ethiopia. The operations were established in 2009 by people with long experience from the public mining sector in Ethiopia and from the Norwegian oil service industry. Akobo Minerals holds a mining licence and an exploration license over key targets in the area. Economic mineralisation was discovered and the company is engaged in mining studies to advance the project to production, alongside exploration core drilling. Akobo Minerals is transforming its organisation to support an increased pace of core drilling. At both the key targets Segele and Joru the company has so far released exceptionally high-grade gold results including the Segele deposit with an Inferred Mineral Resource of 78ktons at 20.9g/t. A scoping study for Segele includes an up-front capital expenditure of USD $8m and all-in sustaining cost of USD $243 per ounce of gold produced. Core-drilling and trenching at Joru have intersected both high-grade gold zones and large wide zones near surface. The company has an excellent partnership with national authorities and places ESG at the heart of its activities – a ground-breaking community program is being planned.

Important information: 

This release is not for publication or distribution, directly or indirectly, in or into Australia, Canada, Japan, the United States or any other jurisdictions where it would be illegal. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Akobo Minerals does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this publication are not being, and may not be, distributed or sent into Australia, Canada, Japan or the United States.