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Akobo Minerals, the Scandinavian-based Ethiopian gold exploration and boutique mining company, has reached an agreement with the South African company IW Mining, a highly experienced mining contractor, to operate the underground mine at Segele

Gold AdobeStock 176722989.jpgaAkobo Minerals has a clear strategy aimed at building a portfolio of gold resources through high-impact exploration and mining. (Image source: Adobe Stock)

This fundamental agreement secures Akobo Minerals access to personnel and competence for mining of the Segele gold ore. Already a lot of 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 to be dispatched imminently. IW Mining will mobilise an experienced mining team from South Africa that will travel to Segele within weeks.

Jørgen Evjen, CEO of Akobo Minerals, commented, “Getting IW Mining on board was the last piece of the puzzle. Together with Solo Resources for the plant production we have now secured all necessary expertise to start mining. Our companies share the same values and philosophy, delivering responsible and world class projects.”

Ian Lowers, CEO of IW Mining Services, added, “Our aim has always been to provide a level of service that exceeds the normal contractual Scope of Work. For IW Mining Services this contract in Ethiopia with Akobo Minerals is an important milestone in line with our growth strategy. IW Mining Services has committed itself fully to ensuring the success of this unique project by being a responsible partner in mining innovation. Our belief is that this mining project is the beginning of a strategic multi party partnership in Ethiopia between Akobo Minerals and IW Mining Services.”

In line with the company's ESG guidelines, IW Mining will recruit and train a significant number of Ethiopian personnel who will work with the Segele mine.