OSLO, 19 June 2023: Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today published its 2022 Group Annual Report. The report is available on the company’s website at: Akobo Minerals Group annual report 2022
Commenting on the company’s performance for the year, Jørgen Evjen, CEO of Akobo Minerals, stated: “2022 was an incredibly important and productive year for the company. We managed to put in place all the necessary operational elements – including breaking ground on our mine, securing the necessary processing plant, adding significant numbers of employees and pushing ahead with our leading ESG program – to prepare us for first gold, and with it cashflow, in 2023.
“The road to becoming Ethiopia’s first operating gold mine in a generation has been a real challenge for us, but we retained our focus, showed incredible flexibility and determination and the groundwork is done.”
He concluded: “I thank every employee for their hard work, in getting to where we are today. Their efforts will help to bring success in 2023 to all our stakeholders – including the local communities in which we operate, the Ethiopian government, partners and shareholders, who have all supported us along our journey.”
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
About Akobo Minerals
Akobo Minerals is a Scandinavian-based gold exploration and boutique mining company, currently holding an exploration license covering 182 km2 and with an ongoing mine development in the Gambela region and Dima Woreda, Ethiopia. The company has established itself as the leading gold exploration company in Ethiopia through more than 12 years of on-the-ground activity.
Akobo Minerals holds a 16 km2 mining license and is working to start up mining of its very promising Segele target. It has an Inferred and Indicated Mineral Resource of 68.000 ounces yielding a world-class gold grade of 22.7 g/ton, combined with an estimated all-in sustaining cost (AISC) of 243 USD per ounce. Still open to depth, the gold mineralised zone continues to expand and will have a positive impact on future resource estimates and mine 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 has an excellent relationship with local communities all the way up to national authorities and we place environment and social governance (ESG) at the heart of our activities – as demonstrated by a planned industry-leading extending shared value program.
Akobo Minerals has built a strong local foothold based upon the principles of sound ethics, transparency, and communication, and 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.
Akobo Minerals has a clear strategy aimed at building a portfolio of gold resources through high-impact exploration and mining, whilst adhering to a lean business operation. The company is headquartered in Oslo and is listed on the Euronext Growth Oslo Exchange and Frankfurt DAX under the ticker symbol, AKOBO.
Akobo Minerals Annual Report 2022 – FINAL
