Akobo Minerals AB (publ)

12/03/2021 | Press release | Distributed by Public on 12/03/2021 04:54

Akobo Minerals shortlisted for prestigious ESG award for Ethiopian gold exploration project

Akobo Minerals shortlisted for prestigious ESG award for Ethiopian gold exploration project

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03 Dec 2021 11:47 CET

Company Name

AKOBO MINERALS AB (PUB)

ISN

SE0015193412

Market

Euronext Growth

Symbol

AKOBO

OSLO, 3 December 2021: Akobo Minerals (Euronext Oslo - "AKOBO") is delighted to
announce it was shortlisted as ESG (Environmental, Social, and Governance)
Explorer/Developer Mining Company of the Year at this week's Mines & Money
London, the premier European forum for mining investment and capital raising.

Organisations were considered based on how well they have developed a long-term
sustainable ESG strategy, and the nominated companies were recognised as having
successfully integrated ESG into this strategy in a meaningful manner. The
shortlist of those companies was decided by a panel of both ESG and mining
industry experts.

Commenting on being nominated for the award, Jørgen Evjen, CEO at Akobo
Minerals, stated: "We are proud to have been one of only six highly regarded
companies from around the world shortlisted for our ESG activities by Mines &
Money London. Akobo Minerals, in its present guise, has only been operating for
little over one year and despite not winning the award, to even be shortlisted
for such a prestigious honour speaks volumes about the great strides we have
taken in this time - in general as an exploration and mining operation; and
specifically, in developing our ESG activities."

He concluded: "After a period of rapid growth, this shortlisting shows that we
are considered to be within an important peer group of respected and forward
thinking exploration enterprises. Every employee can be proud of the part they
have played in helping to build our world class ESG program -one that is already
benefiting the local population on the ground in Ethiopia where we are
successfully building our exploration and mining activities. ESG will always to
be at the heart of our corporate philosophy."

- ENDS -

Background on Akobo Minerals' ESG program

Akobo Minerals is building the capacity of its corporate and operations team to
place ESG issues at the heart of the development of its Gold Project.

The Akobo Minerals mining licence includes a number of ESG obligations that it
has negotiated, including a designated proportion of royalties coming to the
Gambella region and a commitment to support sustainable development initiatives
in the project woreda(district).

Akobo Minerals, as an ethical exploration company is seeking to turn the complex
ESG challenge into an opportunity. At the beginning of 2021, Akobo Minerals
embarked on a partnership with Sazani Associates (Sazani), a UK-based not-for
-profit organisation specialising in natural resource governance to undertake a
rapid appraisal of natural resources use in the project area, and a local
community analysis of needs, and is presently preparing a sustainable natural
resource management plan (SNRMP). This will be in addition to environmental and
social management plans resulting from an environmental and social impact
assessment (ESIA), the company is undertaking.

The SNRMP is being designed as a parallel self-sustaining initiative to the
development of

its gold mining project and will incorporate the following:

· Capacity building in environmental and social safeguarding and technical
capacities of artisanal and small-scale gold mining (ASGM) activity as well as
improved regulation;
· Alternative sustainable livelihood opportunities that support food security
and technical vocations; and
· A payment for ecosystem services scheme, to generate income, from carbon
credits, for our host communities, through rehabilitation and conservation of
degraded areas.

These initiatives are in addition to a program of local community initiatives,
including purchasing equipment for local schools, football clothing for local
junior soccer teams and healthcare support in local health centres. Akobo
Minerals has also helped to ensure the only local road is of sound quality by
making general repairs to its surface. And during 2021, it made a significant
upgrade to a landing strip near to its camp, so light aircraft are now able to
land and take-off - a boon to support community emergency situations.

About Akobo Minerals

Akobo Minerals is a Norway-based gold exploration company, with ongoing
exploration and small-scale mining developments in the Gambela region and Dima
district of southwest Ethiopia. Operations were established in 2009 by people
with long experience from both the public mining sector in Ethiopia and the
Norwegian oil service industry. Following mineral discoveries, the company is
engaged in mining studies to advance the project to production, alongside
exploration core drilling.

Akobo Minerals is transforming itself to support an increased pace of core
drilling. At both its key targets - in Segele and Joru - the company has
released exceptionally high-grade gold results in the Segele deposit, while core
drilling and trenching at Joru have intersected both high-grade gold zones and
large wide zones near the surface. The company has an excellent partnership with
national authorities and places ESG at the heart of its activities - including a
ground-breaking community program.

Akobo Minerals has a clear strategy aimed at building a portfolio of gold
resources through high-impact exploration and mining, while adhering to a lean
business operation. The company is headquartered in Oslo and is listed on the
Euronext Growth Oslo Exchange under the ticker symbol, AKOBO.

For more information, contact:

Jørgen Evjen, CEO, Akobo Minerals

Mob: (+47) 92 80 40 14

Mail: [email protected]

LinkedIn: www.linkedin.com/company/akobominerals

Web: https://akobominerals.com

Important information

This release is not for publication or distribution, directly or indirectly, in
or into Australia, Canada, Japan, the United States or any other jurisdictions
where it would be illegal. It is issued for information purposes only and does
not constitute or form part of any offer or solicitation to purchase or
subscribe for securities, in the United States or in any other jurisdiction. The
securities referred to herein have not been, and will not be, registered under
the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may
not be offered or sold in the United States absent registration or pursuant to
an exemption from registration under the U.S. Securities Act. Akobo Minerals
does not intend to register any portion of the offering of the securities in the
United States or to conduct a public offering of the securities in the United
States. Copies of this publication are not being, and may not be, distributed or
sent into Australia, Canada, Japan or the United States.

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Source

Akobo Minerals AB (publ)

Provider

Oslo Børs Newspoint