Akobo Minerals AB: Akobo Minerals - Operational Update for October 2025
Oslo, Norway, 6 November 2025 - Akobo Minerals AB (publ) ("Akobo" or the "Company") (Euronext Growth Oslo: AKOBO), the Scandinavian-based gold producer operating in Ethiopia, provides the following operational update for October 2025.
- Doré gold production for October is approximately 7.0 kilograms, exceeding the monthly target of 5 kilograms
- Cumulative doré production to date is approximately 58 kilograms
- Steady operational performance continues at the Segele mine, with production well balanced against ongoing work on the vertical shaft
- Gold price still at record high levels
- Mobilization and site preparation for the vertical shaft have commenced
- Headgear fabrication is on schedule, with load testing planned for early November and packing and shipment to site expected by the end of the month
- Of the total 60 meters planned in phase 1 of the shaft development, 15 meters have been completed, with an additional 15-20 meters expected before reaching hard rock - keeping the project on schedule
- Ongoing camp upgrades are underway to improve the quality of life for site personnel. Works include the construction of multiple ablution blocks, upgrades to the catering kitchen, and installation of a potable water treatment plant to reduce plastic use on site
Expert shaft sinking team working on the top part of the vertical shaft and with water diversion
For more information, contact
Jørgen Evjen, CEO, Akobo Minerals
Mob: (+47) 92 80 40 14
Mail: jorgen@akobominerals.com
LinkedIn: www.linkedin.com/company/akobominerals
About Akobo Minerals
Akobo Minerals is a Scandinavian-based gold producer, currently holding an exploration license covering 182 km2 and a mining license covering 16 km2 in the Gambela region and Dima Woreda, Ethiopia. With over 15 years of active operations on the ground, the company has established a strong foothold in Ethiopian mining industry.
Akobo Minerals' Segele mine has an Inferred and Indicated Mineral Resource of 68,000 ounces, yielding a world-class gold grade of 22.7 g/ton The mineralized zone remains open at depth, supporting future resource estimates and extending the mine's life. The exploration license holds numerous promising exploration resource-building prospects in both the vicinity of Segele and in the wider license area.
Akobo Minerals maintains strong relationships with local communities and government authorities, placing ESG principles at the core of its operations. The company's commitment to sound ethics, transparency, and stakeholder engagement is evident through its industry-leading extended shared value program.
Akobo Minerals is ready to take on new opportunities and ventures as they arise. The company is uniquely positioned to become a major player in the future development of the very promising Ethiopian mining industry.
The company is headquartered in Oslo and is publicly listed on the Euronext Growth Oslo Exchange and the Frankfurt Stock Exchange under the ticker symbol AKOBO. For US investors, the company is traded on the OTC Pink Market (OTC: AKOBF).
Akobo Minerals places great emphasis on meeting and exceeding industry standards, fully complying with all aspects of the JORC code, 2012. For detailed information on their adherence to this code, please refer to https://www.jorc.org/.