Production startup is, however, still uncertain, but has been delayed to July or August. The unforeseen nationwide diesel shortages and customs changes for duty-free imports significantly impacted on the company’s operations in recent months. The arrival of critical mining equipment after a prolonged customs delay will enable full ramp-up of mining activities at site. As production increases and positive cash flow is achieved, Akobo says it will refocus on exploration to maximise project value. Seasoned local management consultant Wondwossen Zeleke, with experience in the Ethiopian mining and oil industry, has joined the team.

Source: Ethiopian News May 03, 2024 02:25 UTC