Tuesday , January 31 2023

Akobo Minerals, MIDROC signs second core-drilling rig deal

Norway-based gold exploration company, Akobo Minerals will soon be working with a total of three core drilling rigs in the field, including one company owned drill rig.

The company is currently doing exploration and small-scale mine development in the Gambela region and Dima Woreda, southwest Ethiopia.

The additional drill rig after the first drill rig from MIDROC Geo/Exploration (MIDROC) met expectations hence a contract amendment has been signed for a second drill rig to be engaged.

MIDROC is a subsidiary of MIDROC – Mohammed International Development Research and Organization Companies (MIDROC Group).

While the MIDROC Group has Swedish and global operations, within Ethiopia the organization made important contributions to Ethiopian society through operation of the Lega Dembi Gold Mine since 1998. MIDROC also owns 70 percent of National Oil Ethiopia, the Tossa Steel Plant, cement production facilities and many other operations.

The drilling arm of MIDROC has completed well over 80,000m of core drilling throughout Ethiopia and has a fleet of 5 drill rigs and an operations team of well over 50 people.

The new drill rig is already located at the Segele project and is expected to be in operation within a few days.

The additional core drilling capacity will allow the company to perform extension drilling and infill drilling simultaneously at Segele, while also advancing the scout drilling program at Joru.

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