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Posted on 11/11/2026 11:34:03 AM PST by SunkenCiv
The Canadian-based gold mining company, Allied Gold, recently announced that it has poured its first gold at the Kurmuk mine in Ethiopia, marking the start of production at a project expected to significantly increase the company's output over the next two years.
Allied Gold has poured its first gold at the Kurmuk mine in Ethiopia, commencing production expected to significantly boost the company's output by 2028.
Kurmuk is targeted to reach full production capacity by early 2027, with gold recovery rates expected to improve over time.
Gold output is projected to increase from 25,000-35,000 ounces in 2026 to about 300,000 ounces annually by 2028.
A proposed acquisition of Allied Gold by China's Zijin Gold was terminated, but Zijin will still invest roughly $295 million for a 9.2% stake in Allied.
This new development is projected to help the company reach commercial operations before the end of 2026.
(Excerpt) Read more at africa.businessinsider.com ...
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Chinedu is a Senior Reporter at Business Insider Africa with 5 years experience creating profoundly engaging and insightful content.
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oops...some chinese executive is going to become an organ donor after this report!
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