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Scandinavian-based Ethiopian gold producer Akobo Minerals AB (publ) has provided an operational update for January 2025, reporting steady gold production and outlining plans for a new vertical mine shaft at its Segele deposit.
Gold output for the month totalled just over 2 kg of doré gold, bringing cumulative production to 17 kg. This was in line with expectations, as tunnel operations were temporarily halted from mid-December 2024 to mid-January 2025 for essential safety improvements. With both tunnels now fully operational, mining has resumed, with stoping underway at the Western Winze and preparations nearing completion for prospect driving at the Eastern Winze’s new 575 level. The shift toward predominantly ore mining is expected to stabilise production, though natural month-to-month variations will persist due to Segele’s strong nugget effect.A record-high gold price is set to enhance future cash flow from Segele, further strengthening the company’s financial position.
In a strategic move to optimise underground operations, Akobo Minerals has initiated the development of a vertical shaft, designed to enhance ore access and boost hoisting capacity. With an initial depth of 60 metres and the potential to extend to 120 metres, the shaft is expected to be completed within 12 to 16 weeks. The three-metre-diameter structure will accommodate cages, ventilation, water pumping and electrical infrastructure, with a double-cage hoisting system capable of transporting up to 100 tonnes per day. An electrically powered winder, supported by a dedicated diesel generator, will ensure continuous operation.
Key infrastructure, including the headgear, control, and winch rooms, will be manufactured in South Africa before being shipped to Segele for assembly and commissioning. The transition to a vertical shaft is expected to significantly accelerate production and facilitate the activation of the Carbon-in-Leach (CIL) circuit, improving gold recovery rates from approximately 60% to 93%. This latest development underscores Akobo Minerals’ commitment to operational efficiency and long-term production growth at the Segele mine.
