Akobo Minerals, a Scandinavia-based gold exploration and mining company, is set to start producing gold from its plant in southwest Ethiopia.
Minister of Mines and Petroleum Takele Uma visited the production plant located in Gambella along with other federal and regional officials on Friday.
After the visit, the minister said the company will begin producing gold after three months.
Akobo Minerals licensed for large-scale gold mining in Segele after years of exploitation work alongside the Akobo River.
The mine plant will produce 100 million US dollars worth of gold per annum, according to the Minister.
Akobo will join four other companies with a large-scale gold mining license.
The four supplied more than 80% of Ethiopia’s gold production in the first half of the 2022/23 Fiscal year. Artisanal miners produced the rest.
A total of 1, 910.5 kilograms of gold was produced in the 6 month period, according to the Ministry of Mines.
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