Canadian company Allied Gold will begin operations at its Kurmuk gold mine in Ethiopia's Benishangul-Gumuz region next February. The project aims for full production in the third quarter of 2026, targeting 290,000 ounces of gold annually.
Allied Gold, a Canadian mining firm, plans to commence operations at the Kurmuk gold mine project in Ethiopia's Benishangul-Gumuz region next February. The initiative is set to achieve full production by the third quarter of 2026, with an annual output capacity of 290,000 ounces of gold.
Company CEO Peter Marrone stated that Allied Gold allocates $8 million annually to exploration efforts. Over the next five years, the firm aims to expand its gold reserves to 5 million ounces. The underground mine is located far from inhabited areas, ensuring no community displacements occur. The company has adopted a policy prioritizing local residents for employment opportunities.
Following the announcement of production start in Ethiopia, Allied Gold's share price has quadrupled over the past year. The company also operates gold mines in Mali and Côte d'Ivoire.
