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Akobo Minerals to be awarded large scale gold mining license in Ethiopia

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(Kitco News) - Akobo Minerals announced Thursday that the Ethiopian Council of Ministers has today accepted the Large Scale Mining Licence application submitted by the company on the 7th of September 2021.

According to the company’s statement, the application was developed in close dialogue with the Ministry of Mines and Petroleum with whom the company intends to continue its successful partnership.

The company said that the success of this process gives Akobo Minerals great confidence to bring forward mining plans for the high-grade Segele gold mineralization, and that the future Segele mine will a be positive development for Ethiopia and the community near the project.

The final stage in the process is the signing of a Mining Agreement which is scheduled for the 30th of September. Upon signing, Akobo Minerals said it will release more information covering key clauses.

Akobo Minerals is a Norway-based gold exploration company, currently with ongoing exploration in the Gambela region and Dima Woreda, southwest Ethiopia. At both the key targets, Segele and Joru, the company has so far released high-grade gold results including the Segele deposit with an Inferred Mineral Resource of 78ktons at 20.9g/t.

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