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Akobo Minerals applies for gold mining license in Ethiopia

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(Kitco News) - Akobo Minerals, a Norway-based gold exploration and development company, today announced that it has applied for a large-scale gold mining license in Ethiopia.

The company said that after more than 10 years of exploration work, an application was submitted in close dialogue with the Ministry of Mines and Petroleum.

Akobo added that ongoing successful drilling and a high-grade mineral resource from Segele supports its view that mining will be an important and integral part of the company's future.

The Minister of Mines Takele Uma said, "We are cooperating with Etno Mining/Akobo Minerals to finalize the mining license next week, the first week of the Ethiopian New year. Etno Mining has worked relentlessly since the beginning of its exploration activities."

The mining license area applied for covers a large part of the existing exploration license. A large-scale mining license is normally granted for an initial period of 20 years, then for an additional 10 years, Akobo explained in its statement.  

The company said that with the grant of the mining license, it will secure a long-term operation for the next 20 years and the opportunity to continue exploration work as it starts preparations for mining operations.

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