Business

Allied Gold Pours First Gold at Ethiopia’s Kurmuk Mine

AI SUMMARY

Canadian mining company Allied Gold has poured its first gold at the Kurmuk mine in Ethiopia, targeting commercial production by the end of 2026.

Canadian mining company Allied Gold poured its first gold at the Kurmuk mine in Ethiopia’s Benishangul-Gumuz Regional State.
The company targets commercial production by the end of 2026, making Kurmuk its newest and lowest-cost operation.
Installation of remaining power infrastructure and haulage fleet mobilization are expected to be completed this month.
Allied Gold projects Kurmuk production of 25,000 to 35,000 ounces in 2026, rising to 240,000 to 270,000 ounces in 2027 and about 300,000 ounces in 2028.
The mine is expected to average around 300,000 ounces annually during its first four years before stabilizing at approximately 240,000 ounces annually.
China’s Zijin Gold International acquired a 9.2% stake in Allied Gold for nearly $300 million in August 2026 following the collapse of a proposed $4 billion takeover.
Allied Gold projects consolidated production of 400,000 to 435,000 ounces in 2026 across its operations in Ethiopia, Mali, and Côte d’Ivoire.