Allied Gold Advances Ethiopia Mine Toward Startup as First Ore Enters Circuit

By Adriano Marchese

Allied Gold shares rose Friday after it said it has connected its mine in Ethiopia to the power grid and processed its first ore, marking a major milestone as the project comes online.

Shares traded 4.9% higher at 31.55 Canadian dollars ($22.55).

The miner late Thursday said that it has connected the Kurmuk mine to the national electrical grid, and the first ore has been fed through its processing facilities. The progress transitions Kurmuk from a development-stage asset into a significant growth operation, which the company calls one of its premier gold mines.

The company noted that it continues to mine the deposit as planned, with ore stockpiles building to support the ramp-up to commercial production.

Currently, the company is sitting on a stockpile of about 1 million metric tons, with plans to increase it to 1.5 million tons before it begins to feed its processing circuit at full capacity.

Allied expects to pour its first gold soon, it said, as downstream circuits come online.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

September 18, 2026 12:24 ET (16:24 GMT)