Abyssinia Resources Development, a subsidiary of Akobo Minerals, secured a USD 8.5 million loan facility from Monetary Metals, a US based company. The fund will help Akobo advance its gold mining development work in Segele which is at its final stage.

According to Akobo’S CEO Jorgen Evjen, the deal with Monetary Metals shows a strong international endorsement of Akobo’s gold exploration and mining project in Ethiopia.

Akobo Minerals is a Norwegian Company which currently has exploration and mining development projects in Gambela and Dima woreda.

Source: Mining Weekly

Additional source: Akobo Minerals