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Keyword: alliedgold

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  • Chinese gold giant failed to buy this African-focused miner for $3.9 billion; now its new Ethiopian mine is producing gold

    11/11/2026 11:34:03 AM PST · by SunkenCiv · 3 replies
    Business Insider Africa ^ | November 10, 2026 | Chinedu Okafor
    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...