IW Mining, South African company is set to operate Segele gold mine in Ethiopia after being appointed by Akobo Minerals to the project’s mining contractor.
Mining at Segele is expected to start in October, with first gold extraction to begin in the first quarter of 2023. IW Mining will in line with Akobo’s environmental, social and governance (ESG) guidelines recruit and train Ethiopian personnel to work at the underground mine.
Preparation of mining operations
Full production is expected to be reached by the end of the second quarter of 2023. Akobo says considerable planning and preparation have been undertaken together with IW Mining for the last few months ahead of the signing of the agreement.
Sourcing of mining equipment has already begun and first shipments are to be dispatched imminently. IW Mining will mobilise an experienced mining team from South Africa that will travel to Segele within weeks.
“We are now ramping up activities in all areas for preparation of mining operations. With the newly secured convertible loan and signing of Solo Resources on plant design and production in May, all tasks are on track,” said Akobo.
Solo Resources has already completed design work, and the process plant is now under fabrication and deliveries of the parts will begin shortly. The final project funding is also moving forward with several positive dialogues ongoing.