Akobo Minerals reports February 2025 operational update

Oslo, Norway, 14.03.25, Akobo Minerals AB (publ) ("Akobo" or the "Company") (Euronext Growth Oslo: AKOBO), a Scandinavian-based Ethiopian gold producer, provides an operational update for February 2025.

Gold production

  • Gold production for February amounted to 1.3 kg, bringing the total gold production to date to 18.6 kg.
  • February production was low due to lower grade ore mined. As previously stated, variation in production is expected due to the nature of the deposit. The geological model remains sound, but the variability of the ore body impacts extraction rates and processing efficiency.

Operational performance

  • The operational mining performance remained solid throughout the month, and work continues on opening three stopes from the winzes at different locations within the deposit, which will provide access to higher-grade material.

Collaboration with Sutton Global

  • Cooperation with Sutton Global is strengthening, with additional resources added to the project. Project and Site Manager Kobus Byleveldt, a mining engineer with more than 40 years of mining experience, has joined the team. He is responsible for overseeing activities at the site and planning and executing the sink shaft project.

Sink shaft project

  • The sink shaft project is progressing, with a team from Sutton Global working on details for the mine plan, headgear design, costing, and the startup of work at the site.

Akobo Minerals remains focused on optimizing production and improving efficiencies as the mine continues to ramp up.

For more information, contact: 

Jørgen Evjen, CEO, Akobo Minerals 

Mob: (+47) 92 80 40 14 

Mail: jorgen@akobominerals.com 

LinkedIn: www.linkedin.com/company/akobominerals 

Web: www.akobominerals.com  

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 14 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/. Akobo Minerals' unwavering commitment to ethical practices, community engagement, and environmental responsibility positions them as a formidable force in the evolving landscape of the Ethiopian mining sector.