Kurmuk Mine Hits Key Milestones: Grid Energized, First Ore Crushed
AAUC sits 47% above its 52-week low of $14.6.
Summary
Allied Gold announced that the Kurmuk Mine in Ethiopia has been connected to the national power grid and has fed first ore through its crushing circuit, with first gold expected shortly.
Key Events · Product Development and Regulatory · AAUC
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Grid Connection Energized
The 88-km, 132-kV power line connecting Kurmuk to the Ethiopian grid has been commissioned and energized, supplying sufficient power for commissioning and ramp-up.
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First Ore Crushed
First ore was fed through the crushing circuit earlier this month, with handover from commissioning to operations teams now underway.
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One Million Tonne Stockpile
Mining has established an ore stockpile of approximately one million tonnes, planned to reach nearly 1.5 million tonnes (three months of feed) ahead of full circuit commissioning.
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Low-Cost Power Secured
A 20-year power purchase agreement with Ethiopian Electric Power provides electricity at a fixed rate of approximately US$0.04 per kWh, supporting expected low production costs.
Analysis · AAUC · Energy & Transportation
Two critical commissioning milestones have been reached at the Kurmuk Mine: the 88-km power line to the Ethiopian grid is now energized, and first ore has been processed through the crushing circuit. With a one-million-tonne ore stockpile already built and a fixed power cost of roughly US$0.04 per kWh, the mine is positioned to begin gold production within weeks. Kurmuk is the cornerstone of Allied Gold's growth strategy, expected to add 240,000–270,000 ounces in its first full year and average at least 240,000 ounces annually over a 15-year mine life. This update confirms the project is on track to transition from construction to commercial production, a key value driver for the company.
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