Akobo Minerals shortlisted for prestigious ESG award for Ethiopian gold exploration project

OSLO, 3 December 2021: Akobo Minerals (Euronext Oslo – “AKOBO) is delighted to announce it was shortlisted as ESG (Environmental, Social, and Governance) Explorer/Developer Mining Company of the Year at this week’s Mines & Money London, the premier European forum for mining investment and capital raising.

Organisations were considered based on how well they have developed a long-term sustainable ESG strategy, and the nominated companies were recognised as having successfully integrated ESG into this strategy in a meaningful manner. The shortlist of those companies was decided by a panel of both ESG and mining industry experts.

Commenting on being nominated for the award, Jørgen Evjen, CEO at Akobo Minerals, stated: “We are proud to have been one of only six highly regarded companies from around the world shortlisted for our ESG activities by Mines & Money London. Akobo Minerals, in its present guise, has only been operating for little over one year and despite not winning the award, to even be shortlisted for such a prestigious honour speaks volumes about the great strides we have taken in this time – in general as an exploration and mining operation; and specifically, in developing our ESG activities.”

He concluded: “After a period of rapid growth, this shortlisting shows that we are considered to be within an important peer group of respected and forward thinking exploration enterprises.  Every employee can be proud of the part they have played in helping to build our world class ESG program –one that is already benefiting the local population on the ground in Ethiopia where we are successfully building our exploration and mining activities. ESG will always to be at the heart of our corporate philosophy.”


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Background on Akobo Minerals’ ESG program

Akobo Minerals is building the capacity of its corporate and operations team to place ESG issues at the heart of the development of its Gold Project.


The Akobo Minerals mining licence includes a number of ESG obligations that it has negotiated, including a designated proportion of royalties coming to the Gambella region and a commitment to support sustainable development initiatives in the project woreda(district).


Akobo Minerals, as an ethical exploration company is seeking to turn the complex ESG challenge into an opportunity. At the beginning of 2021, Akobo Minerals embarked on a partnership with Sazani Associates (Sazani), a UK-based not-for-profit organisation specialising in natural resource governance to undertake a rapid appraisal of natural resources use in the project area, and a local community analysis of needs, and is presently preparing a sustainable natural resource management plan (SNRMP). This will be in addition to environmental and social management plans resulting from an environmental and social impact assessment (ESIA), the company is undertaking.


The SNRMP is being designed as a parallel self-sustaining initiative to the development of

its gold mining project and will incorporate the following:

  • Capacity building in environmental and social safeguarding and technical capacities of artisanal and small-scale gold mining (ASGM) activity as well as improved regulation;
  • Alternative sustainable livelihood opportunities that support food security and technical vocations; and
  • A payment for ecosystem services scheme, to generate income, from carbon credits, for our host communities, through rehabilitation and conservation of degraded areas.


These initiatives are in addition to a program of local community initiatives, including purchasing equipment for local schools, football clothing for local junior soccer teams and healthcare support in local health centres.  Akobo Minerals has also helped to ensure the only local road is of sound quality by making general repairs to its surface. And during 2021, it made a significant upgrade to a landing strip near to its camp, so light aircraft are now able to land and take-off – a boon to support community emergency situations.


About Akobo Minerals

Akobo Minerals is a Norway-based gold exploration company, with ongoing exploration and small-scale mining developments in the Gambela region and Dima district of southwest Ethiopia. Operations were established in 2009 by people with long experience from both the public mining sector in Ethiopia and the Norwegian oil service industry. Following mineral discoveries, the company is engaged in mining studies to advance the project to production, alongside exploration core drilling.


Akobo Minerals is transforming itself to support an increased pace of core drilling. At both its key targets – in Segele and Joru – the company has released exceptionally high-grade gold results in the Segele deposit, while core drilling and trenching at Joru have intersected both high-grade gold zones and large wide zones near the surface. The company has an excellent partnership with national authorities and places ESG at the heart of its activities – including a ground-breaking community program.


Akobo Minerals has a clear strategy aimed at building a portfolio of gold resources through high-impact exploration and mining, while adhering to a lean business operation. The company is headquartered in Oslo and is listed on the Euronext Growth Oslo Exchange under the ticker symbol, AKOBO.



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: https://akobominerals.com



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.