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Scandinavian junior Akobo Minerals (FRA: 643) (OTCMKTS: AKOBF) officially opened on Wednesday its Segele gold mine in Ethiopia, marking a major milestone in the country’s developing mining industry.
The inauguration ceremony was attended by Ethiopia’s Prime Minister Abiy Ahmed, which shows the mine’s significance to the nation’s economic and industrial ambitions, Akobo said.
“The Segele mine is a testament to Ethiopia’s vast potential in the mining sector and the importance of international partnerships to realize this potential,” Ahmed said in the statement. “We are proud to see this project reach a significant milestone, benefiting not only the national economy but also the communities around it.”
The ceremony also included the first symbolic gold pour, with an initial yield of 6.5 kilograms, which the company says underscores Segele’s high-grade ore quality.
It follows Akobo’s October announcement of its first gold bar production from the site — a 1.4-kg bar smelted from 170 tonnes of lower-grade material, with an average grade of 8 grams per tonne.
Akobo Minerals, a gold exploration and mining company focused on Ethiopia, hailed the opening of Segele as a transformative moment.
“The inauguration of the Segele mine is a defining moment for Akobo Minerals. This project is the result of years of dedication, collaboration, and innovation,” chief executive officer Jørgen Evjen said in a statement.
Years in the making, the opening of the Segele mine highlights the role of international expertise and investment in unlocking Ethiopia’s mineral wealth, the executive noted.
In addition to its contribution to Ethiopia’s gross domestic product (GDP), the Segele gold mine is expected to bring significant benefits to the local community. Akobo Minerals emphasized its commitment to sustainable practices, including the creation of jobs, infrastructure development, and environmental stewardship.
