Akobo reports strong gold production and progress at Segele
Akobo Minerals AB (publ), the Scandinavian gold producer operating the high-grade Segele underground gold mine in Ethiopia, has announced robust operational results for August 2026 along with key development updates.
During August, the Segele mine produced approximately 16 kg of doré gold at an exceptional average grade of 26 g/t, marking the company’s second-best production month since start-up. Total cumulative gold production has now reached approximately 158 kg at an average grade of 24 g/t, underscoring the outstanding quality of the Segele deposit by international underground mining standards.
The processing plant continues to operate through batch campaigns rather than continuous processing, which means monthly processed tonnage and stockpile levels may fluctuate depending on campaign timing. Currently, there are approximately 700 tonnes of stockpile available for processing.
Development and infrastructure progress
Development of the vertical shaft continued in August, with progress slower than initially planned due to challenging softer rock conditions. Approximately 54 metres of vertical shaft development remain.
A significant upcoming milestone is the start-up of the first lateral into the orebody, expected to begin from the eastern winze and later from the vertical shaft. This will enable development from both directions, accelerating overall progress. Once completed, hoisting of gold-bearing ore from the shaft will commence.
In parallel, critical preparatory work has advanced, including mine planning, geological model updates, and surface infrastructure preparation around the shaft area to support future operations and logistics.
Construction is also underway on key site infrastructure, such as a new treatment water storage dam and a new tailings storage facility, which are essential for sustainable future operations.
Akobo Minerals is focused on maintaining strong operational performance while advancing shaft and lateral developments to increase production capacity. The company remains committed to unlocking the full potential of the Segele mine, one of the world’s highest-grade underground gold mines.
